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Vokswagen to showdown, possible capital increase and asset sales

The meeting of the supervisory board could sanction the decision of a capital increase and the sale of assets of the automotive group, while the fury of the union is unleashed against the hypothesis of personnel cuts – Marchionne: “Buying Volkswagen parts? Depends on what they're selling."

Vokswagen to showdown, possible capital increase and asset sales

Showdown at home Volkswagen, expected today, after yesterday's select committee meeting, at the supervisory board meeting. A meeting that promises to be fiery and from which very important decisions could arise for the present and the future of the German automotive giant, overwhelmed by the Dieselgate.

Among the possible decisions that could be taken by the supervisory board, capital increases and asset sales stand out, as well as cost containment measures for workers, a hypothesis that has already triggered the fury of the union, clearly hostile to the adoption of such systems.

Volkswagen is also expected to announce today the issue of a bonus for American customers who own a diesel car: $500 in cash plus a $750 discount to spend at dealerships. 

On the other hand, the CEO of FCA spoke about the situation of the German car manufacturer Sergio Marchionne, who was open to the possibility of buying Volkswagen parts: "It depends on what they sell". Regarding the Dieselgate, the manager stated that “there is no conspiracy, but there was a technical defect in the way the car was engineered. From an industrial point of view, this crisis re-proposes the need to share choices in an aggregate way, to avoid creating excessive pressure on companies”. 

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