VW shares up 2.7% in early trade on truck listing plans
FRANKFURT - Volkswagen shares were up 2.7% in early trade on Tuesday after the multi-brand carmaking group said it would press ahead with a listing of its trucks unit Traton in what could be Germany’s biggest share offering this year.
The company in March delayed an initial public offering for the trucks unit, blaming market conditions, amid rising trade tensions and fears about an uncontrolled exit of Britain from the European Union. “Current market assessments have encouraged us to take today’s decision,” Volkswagen finance chief Frank Witter said in a statement.
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