Reuters reveals Porsche, Piech families weigh direct stake in possible Porsche IPO; market reacts

Shares in Europe’s largest carmaker Volkswagen climbed for a second consecutive day after Reuters revealed that the powerful Porsche and Piech families, which control Volkswagen’s largest shareholder, are prepared to buy a direct stake in a potential listing of iconic sports car brand Porsche. Shares in Volkswagen and top shareholder Porsche SE hit a six-week high following the report, which flagged a potential change in the carefully constructed balance of power at the world’s second-largest carmaker and comes only weeks after the departure of powerful labor boss Bernd Osterloh. The news on Monday continues Reuters agenda-setting coverage of the company at a time of profound change