Porsche SE to take big impairment on VW stake

Quick Summary:

BERLIN: Porsche SE, Volkswagen’s top shareholder, has warned it may write down the value of its stake in Europe’s top carmaker by up to €20bil or about US$21bil, in the latest sign of how VW’s cost crisis has shaken investor faith in the carmaker.

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Based on Volkswagen’s current market capitalisation, the stake is worth around €14.3bil.

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Article Details

Category: EconomyBusiness

Markets: Malaysia

Topics: VW Auto Carmaker Porsche SE /Business/Business News Volkswagen

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-16 @ 00:00:00 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 335 words

Reading Time: 2 minutes read

Sentences: 11 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 24422373

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Main Topics: EconomyBusiness

Official Website: thestar.com.my

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News Last Updated: 36 minutes ago

Coverage Areas: Malaysia

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