Porsche has no plans to sell Volkswagen shares

Porsche SE, the majority shareholder of Volkswagen (VW), is not planning a sale of VW shares according to its own statements on Sunday.

In response to a query, a Porsche spokesman said there were no current concrete plans to sell VW shares nor have there been any in 2024.

The Bild newspaper had previously reported that the family branches around Wolfgang Porsche and Hans Michel Piëch were considering a partial sale of their VW shares.

Porsche SE is the investment company of the Porsche and Piëch families. It holds 53.3% of Volkswagen's ordinary shares, giving it a majority of the voting rights.

"There have been no discussions with investors regarding a sale of VW shares," the spokesman said.

Porsche is committed to its role as a long-term oriented anchor shareholder of Volkswagen and is convinced of the value creation potential of the Volkswagen Group, the spokesman added.

VW declined to comment when asked about Porsche.