Ducati sale does not have majority backing of VW group works council (translated)
31 JUL 2017
The prospective sale of Italian motorcycle company Ducati does not have the backing of a majority of the Volkswagen (VW) [ETR:VOW] group works council, Frankfurter Allgemeine reported.
The German daily cited a works council spokesperson who said VW does not need the money and units will not be sold to bargain hunters. The spokesperson said Ducati, gear manufacturer Renk, and engine manufacturer MAN Diesel&Turbo [MANG:DE] will not be sold.
The VW owning families Porsche and Piech are also thought to be against a sale of Ducati and Renk, the report stated, citing VW group sources. The works council controls half of the 20 seat board, with Porsche and Piech holding four seats. A spokesperson for Porsche SE declined to comment, the report added.