--Volkswagen is preparing an initial public offering of its sports-car brand Porsche AG, Handelsblatt reports.

--The Porsche-Piech family is considering buying a significant portion of shares in the new Porsche through its holding company Porsche SE, which controls more than 50% of Volkswagen. To fund the deal, the family could sell part of its stake in Volkswagen, according to Handelsblatt.

--Volkswagen shares are up 6% on the news.

 

Full story in German: https://bit.ly/3pCQhkY

 

Write to Ed Frankl at edward.frankl@dowjones.com

 

(END) Dow Jones Newswires

December 07, 2021 10:41 ET (15:41 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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