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Volkwagen's truck unit says no final decision taken on IPO

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Volkwagen's truck unit says no final decision taken on IPO

Volkwagen's truck unit says no final decision taken on IPO
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Hannibal Hanschke(Reuters)
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HANOVER, Germany (Reuters) - Volkswagen <VOWG_p.DE> sought to dampen expectations on Tuesday that it would soon list its truck unit Traton on the stock exchange, saying no final decision had been taken.

"An initial public offering is just one option of many" Traton Chief Executive Andreas Renschler told journalists at the IAA truck fair in Hanover.

Volkswagen has taken steps to prepare Traton for a possible initial public offering, and on Monday it said it had converted the unit's legal structure and would shortly mandate investment banks and legal advisors.

A floatation would allow Traton to tap capital markets to help it build a global trucks business and challenge rivals Daimler <DAIGn.DE> and Volvo <VOLVb.ST>.

(Reporting by Jan Schwartz, Writing by Caroline Copley, Editing by Tassilo Hummel; Writing by Caroline Copley)

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