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VW to sell new shares

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VW to sell new shares

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Volkswagen is to seek between eight and 10 billion euros from its investors through the sale of new preferred shares.

Europe’s biggest carmaker said the money will be used to complete its merger with Porsche and safeguard its financial stability. Analysts – who were surprised by the size of the planned share issue – said the extra cash means VW should be able to make fresh acquisitions.