Volkswagen AG is in advanced discussions with Porsche Automobil Holding SE about a potential IPO of the luxury carmaker, and the two have negotiated a framework agreement as the basis for preparing such a step, Volkswagen said on Tuesday.
The conclusion of an agreement must be approved by the management board and supervisory board, the carmaker said, adding a final decision had not been taken.
"Whether a framework agreement is concluded and its content is open and depends on the approval of both parties' boards," the statement said.
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