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4-Traders Homepage  >  Equities  >  Xetra  >  Volkswagen AG    VOW3   DE0007664039

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Volkswagen AG : Germany To Aggressively Defend 'Volkswagen Law' - Report

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03/21/2012 | 10:24am CET

The German government will aggressively defend the country's "Volkswagen Law" at the European Court of Justice against the European Commission, which is suing Germany for the second time over the regulation, German newspaper Handelsblatt reports Wednesday, citing Economy Minister Philipp Roesler.

The law, which effectively shields German car maker Volkswagen AG (VOW.XE) from hostile takeover, guarantees the state of Lower Saxony a blocking minority in the company over certain decisions such as takeovers. This regulation has been long been criticized by the European Union for allegedly breaching competition rules, while Germany has defended the law on strategic grounds.

The Volkswagen law was revised in 2008 to meet the requirements of the court's judgement in 2007, and the fact that the Commission has decided to take new action four years later is difficult to fathom, Roesler is cited as saying.

"The federal government is clearly supporting the VW law and will aggressively defend it before the court," Roesler adds.

Newspaper website: http://www.handelsblatt.com

-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500.

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Financials (€)
Sales 2016 213 111 M
EBIT 2016 11 890 M
Net income 2016 8 376 M
Debt 2016 21 966 M
Yield 2016 1,60%
P/E ratio 2016 8,87
P/E ratio 2017 6,60
EV / Sales 2016 0,44x
EV / Sales 2017 0,44x
Capitalization 71 664 M
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Mean consensus HOLD
Number of Analysts 32
Average target price 155 €
Spread / Average Target 11%
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NameTitle
Matthias Müller Chief Executive Officer
Hans Dieter Pötsch Chairman-Supervisory Board
Martin Hofmann Head-Group Information Technology
Peter Mosch Member-Supervisory Board
Bernd Osterloh Member-Supervisory Board
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