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Porsche AG benefits from being part of Volkswagen Group, CEO says -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – A Porsche logo is visible outside of a Porsche dealer amid the COVID-19 outbreak in Brussels (Belgium), May 28, 2020. REUTERS/Yves Herman

LUDWIGSBURG (Reuters) – Porsche AG, part the Volkswagen (DE:) Group profits from being Volkswagen, Oliver Blume of its CEO stated Wednesday. He was responding to speculations that an IPO could be in the offing for the luxury brand.

“We are very happy in Volkswagen Group. We can reap the benefits of synergies. Blume stated that the most important thing is to concentrate on transformation at this moment. He spoke during a conference for car industry leaders organized by Automobilwoche in Ludwigsburg.

Germany’s Manager Magazin reports that in October, Goldman Sachs (NYSE 🙂 and Freshfields represented advisors who were working to list the unit.

Volkswagen CEO Herbert Diess claimed that on October 28th, the company was continuously reviewing its portfolio. However, he did not offer any additional comment.

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