The Volkswagen Group wants to get serious and take its sports car subsidiary Porsche AG public.

With the VW major shareholder Porsche Automobil Holding there are advanced talks, VW announced on Tuesday.

The Porsche and Piëch owner families bundle their shares in the group network in the holding company.

Volkswagen AG and Porsche-Holding have negotiated a cornerstone agreement that is to form the basis for further steps to prepare for a possible IPO of Porsche AG.

A decision has not yet been made.

There has been speculation for a long time about a possible IPO of the high-yield Porsche.

The FAZ reported on Monday: Porsche could be worth 120 billion euros after an IPO and bring VW a lot of money for the conversion.

Following the announcement, Volkswagen preferred shares rose by 8.5 percent.

The shares of Porsche SE also increased by around 10 percent.

The holding company is not to be confused with the sports car manufacturer itself, which is located under the VW group umbrella.

The Holding Porsche SE holds a good 53 percent of the voting rights in the Volkswagen Group.