Volkswagen shares dip as it values Porsche at up to $75 billion

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Reuters

By Victoria Waldersee BERLIN (Reuters) – Volkswagen shares dipped on Monday as investors gave a muted reaction to news the automaker is targeting a valuation of up to 75 billion euros ($75 billion) for sports car brand Porsche, in what could be Europe’s third biggest IPO ever. Porsche aims to win over investors with its track record of success and high margins, even as shares of other luxury carmakers like Ferrari and Aston Martin have suffered this year in the tumult on European stock markets. Volkswagen, which some analysts have said could unlock value for its own stock by listing the luxury…

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