UPDATE 2-Volkswagen Truck & Bus says no decision yet on listing [Reuters]
Navistar Intl Corp (NAV)
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Source: Reuters
Volkswagen Truck & Bus says no decision yet on listing | Reuters Reuters Staff 3 Min Read FRANKFURT (Reuters) - Proceeds of more than 6 billion euros ($6.9 bln) would flow to parent Volkswagen AG ( VOWG_p.DE ) if it decides to list its truck and bus subsidiary, the division’s chief executive told Manager Magazin as he set out the company’s ambitions. Manager Magazin said a listing of around 25 percent was being planned for summer 2019. Wolfsburg-based VW has plans to build a global trucks business by integrating its MAN and Scania divisions and building its stake in U.S. truck maker Navistar ( NAV.N ) to challenge rivals Daimler ( DAIGn.DE ) and Volvo ( VOLVb.ST ). Volkswagen has said it is considering a listing or partial listing of the division but has ruled out any listing in 2018. “First of all the supervisory board of Volkswagen AG would need to formally approve an initial public offering,” the division’s chief executive Andreas Renschler was quoted telling the monthly Ge
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