UPDATE 1-Volkswagen's truck unit says no final decision taken on IPO [Reuters (UK)]
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Source: Reuters
Volkswagen's truck unit says no final decision taken on IPO | Reuters 2 Min Read HANOVER, Germany (Reuters) - Volkswagen ( VOWG_p.DE ) sought to dampen expectations on Tuesday that it would soon list its truck unit Traton on the stock market, saying no final decision had been taken. Volkswagen has taken steps to prepare Traton for a possible initial public offering, and a floatation would allow the unit to tap capital markets to help it build a global trucks business and challenge rivals Daimler ( DAIGn.DE ) and Volvo ( VOLVb.ST ). Traton Chief Executive Andreas Renschler downplayed expectations that it could soon list the business, telling journalists at the IAA truck fair in Hanover that all options remained open and the company would decide in due time. “An initial public offering is just one option of many,” he said. Volkswagen said on Monday the carmaker’s supervisory board had decided to convert Traton’s legal structure to a Societas Europaea (SE) and to shortly mandate in
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