The stock exchange prices were already rising strongly on Tuesday because the prospects for the economy improved and a waning fear of the Corona variant Omikron lightened the mood of investors.

Then the VW shares suddenly made an even stronger jump up in the afternoon.

The reason was speculations about an IPO of the sports car subsidiary Porsche, which suddenly appeared in the room without any concrete clue.

Susanne Preuss

Business correspondent in Stuttgart.

  • Follow I follow

Christian Müßgens

Business correspondent in Hamburg.

  • Follow I follow

Nothing was confirmed.

"We generally do not comment on speculation," said a spokesman for Porsche SE, a holding in which the Porsche and Piëch families have pooled their shares and which in turn has the majority of voting rights in Volkswagen AG.

An IPO of the sports car manufacturer of almost the same name, Porsche AG, which has so far been wholly owned by Volkswagen AG, would be the decision of the VW board of directors, according to Stuttgart.

This briefly describes the area of ​​tension: the sports car manufacturer Porsche has become the plaything of interests in the VW Group and right in the middle of the quarrels about the whereabouts of CEO Herbert Diess.

After weeks of back and forth, his position appeared to be secure in the last few days, but nothing has been decided yet.

This Thursday, the Supervisory Board is to meet for its regular planning round for investments in the next few years.

Only then will it be clear whether Diess will remain at the top of the group despite his recent dispute with the employee side.

There are always new messages about other personal details that are to be decided, such as a possible move by Audi board member Hildegard Wortmann to the VW group board.

A scene that nobody forgets

"Come on Volkswagen - set Porsche free," added Daniel Schwarz from the Stifel analysis company and brought big numbers into play. Based on Ferrari's stock market history, it comes to a value of 199 billion euros for Porsche and a price of 398 euros per VW share. In the Porsche environment, a mid-double-digit billion amount is more realistic - but even then, it is about a lot of money that can be earned by banks and consultants, analysts and investors. This is why a lot of imagination is brought into play, for example that the Porsche and Piëch families might be interested in being directly and significantly involved in the sports car manufacturer themselves instead of only indirectly via Volkswagen AG, as is currently the case.

The basis for this was laid by Wolfgang Porsche, the now 78-year-old grandson of Ferdinand Porsche and head of a widespread family clan.

That was more than twelve years ago, when Porsche had to surrender to power in Wolfsburg after a long period of poker and even brought its own sports car subsidiary into the VW Group.

"Rely on me: The Porsche legend lives on and will never go under," he called to the Porsche workforce gathered in the pouring rain on the Zuffenhausen plant - his voice broke during this sentence.

Seldom has one experienced a representative of big business more emotionally than on that Thursday in July 2009, which is why the scene is remembered by many, even outside of those interested in the matter.