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Germany’s Volkswagen confirmed it is thinking of acquiring a majority stake in car rental company Europcar as it seeks to enter into the trend for consumers to rent instead of owning a vehicle.
The automaker said it was considering a potential transaction, along with investors Attestor and Pon Holdings, although considerations were at a very early stage and any decision is yet to be taken.
The car rental business has taken a heavy hit from the coronavirus pandemic following the collapse of the travel market.
Europcar had earlier rejected a $2.6 billion takeover bid from Volkswagen.
