Porsche SE Denies Plans to Sell Volkswagen Shares Amid Investment Speculation

Porsche SE, the largest shareholder of Volkswagen (ETR: VOWG_p), has dismissed reports of plans to sell its voting shares in Europe’s biggest carmaker. The German tabloid Bild claimed that the Porsche and Piech families, who control Porsche SE, were considering reducing their stake in Volkswagen to free up capital for other investments.

According to Bild, potential scenarios included lowering Volkswagen’s ordinary shares stake from 53.3% to 45%-50%, potentially raising between €1.07 billion and €2.69 billion ($1.16 billion-$2.93 billion) based on current market prices. However, Porsche SE issued a firm denial, stating that no concrete plans existed in 2024 to divest Volkswagen shares. The holding firm also emphasized that any sale would need to be reported in financial statements.

"There have been no discussions with investors regarding a VW share sale," Porsche SE stated, reaffirming its commitment as a long-term anchor shareholder. Volkswagen declined to comment on the matter.

Porsche SE currently holds 31.9% of Volkswagen’s equity and 53.3% of its voting rights. It also maintains a blocking minority in Porsche AG, the luxury automaker that went public in 2022. While Porsche SE views Volkswagen and Porsche as core investments, the firm previously indicated that it may consider reallocating assets over time.

Earlier this month, Porsche SE reported substantial impairments of €19.9 billion on its Volkswagen stake and €3.4 billion on Porsche AG. Despite these financial setbacks, the holding company remains confident in Volkswagen’s long-term value potential.

The statement from Porsche SE aims to quell speculation and reinforce its commitment to Volkswagen’s future, maintaining stability amid market rumors.