VW: No Plan to Sell Assets or Restructure Groups

Volkswagen AG says it has no plan to create a new legal structure for the company. And the company’s controlling Porsche and Piech families say they don’t want VW to sell any assets.

The strategy is in contrast to that of Daimler AG, which said in July it might set up a holding company and turn key operations into separate legal entities. CEO Dieter Zetsche says the move could be used to help fund the company’s development of electric and autonomous vehicles.

Market researchers Evercore ISI estimate that creating a similar structure at VW could release €50 billion ($60 billion) in value. The company’s current market capitalization is €68 billion ($81 billion).

Mueller tells reporters he will consider all options. But he also declares, “I will not let anyone push me.”

Wolfgang Porsche, the chairman of Porsche SE which controls 52% of VW’s voting shares, tells reporters the option of selling company assets has not been discussed by VW’s supervisory board. He says the Porsche-Piech families suggest VW instead focus on making its namesake brand leaner through its previously announced streamlining plan.