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Volkswagen intends to sell assets accounting about 20% of its annual revenue

Volkswagen carVolkswagen intends to sell assets accounting about 20% of its annual revenue, released the Chief Exclusive Officer Matthias Muller. These are activities that are not considered essential in the work of the German concern. The company has created a new team, which job is to complete the deals.

In July, it became clear that Volkswagen had postponed the sale of the Ducati motorcycles, which is estimated at 1.5 billion EUR, due to dissatisfaction with trade unions, which are holding half of the company’s board.

“The list of assets for sale is not yet finalized and we will not let anyone tell us what decisions to make”, said CEO of Volkswagen, Matthias Muller. He denied further information about a possible merger with Fiat Chrysler Automobiles (FCA) and called it “speculation”. “We are a big company and we have no interest in getting even bigger”, added Muller.

In 2016, the group earned more than 217 billion EUR.

Volkswagen, shortened to VW, is a German automaker founded on May 28, 1937 by the German Labour Front and headquartered in Wolfsburg. It is the flagship marque of the Volkswagen Group, the largest automaker by worldwide sales in 2016.