April 13, 2018 / 9:28 AM / a year ago

Volkswagen has no plans to cede control of trucks ops: chairman

Herbert Diess, Volkswagen's new CEO and Hans Dieter Poetsch (L), chairman of the supervisory board, address the media during a news conference at the Volkswagen plant in Wolfsburg, Germany April 13, 2018. REUTERS/Fabian Bimmer

WOLFSBURG, Germany (Reuters) - Volkswagen (VOWG_p.DE) will not list its trucks business this year and has no plans to cede control of the division, chairman Hans Dieter Poetsch said on Friday.

“We want to ready the business for capital markets,” Poetsch said, saying that Volkswagen Trucks and Buses could be turned into a Societas Europaea (SE).

Upon being asked whether this includes a full or partial listing of the business, Poetsch said: “This is not a topic for 2018. There are no plans to cede control.”

Reporting by Andreas Cremer; Writing by by Edward Taylor; Editing by Maria Sheahan

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