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VW top shareholder Porsche SE sees impairment on investment of up to 20 billion euros

12/13/2024

Less than a minute

2024.12.13 13:32

BERLIN (Reuters) – Porsche SE, the holding company which owns a third of Volkswagen (ETR:), expects an impairment on its investment in the carmaker of up to 20 billion euros ($20.98 billion), it said on Friday.

© Reuters. FILE PHOTO: An employee of Europe's largest carmaker Volkswagen arrives for the early morning shift at the VW plant in Osnabrueck, Germany October 28, 2024. REUTERS/Teresa Krueger/File Photo

It also expects an impairment on its investment in luxury carmaker Porsche AG of up to 2 billion euros, based on analyst expectations for the two companies.

($1 = 0.9534 euros)

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12/13/2024

Less than a minute