Porsche SE has no information about Piech’s stake sale talks

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Porsche SE, Volkswagen’s majority shareholder, stated it has no details about previous VW chairman Ferdinand Piech’s talks with the automaker’s managing families about a potential sale of his stake.

“We are just notified about that talks are taking place,” chief executive Hans Dieter Poetsch stated on Tuesday at the company’s earnings press conference.

“We can not even say if there will be an outcome.”

Should the negotiations of the Porsche and Piech families to purchase a significant part of Piech’s 14.7 percent stake in Porsche SE be successful, such a move would have no influence on the holding company’s ownership structure, Poetsch stated.

“There will be no change to the fact that the ballot shares will be held by the Porsche and Piech families,” the CEO stated.

Porsche SE is the group through which the billionaire Porsche and Piech manage 52.2 percent of the voting shares in Volkswagen.

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