Volkswagen is considering selling Audi’s stake in the football club Bayern Munich as part of a large-scale cost-cutting program.
The stake in question is Audi’s 8.33% holding in FC Bayern München AG.
Porsche’s stake in VfB Stuttgart and other sports projects of the group, including cooperation with VfL Wolfsburg, are also being reviewed.
The news came amid reports that Volkswagen is preparing to cut 100,000 jobs. The cost-cutting plan is expected to be submitted to the supervisory board for consideration on July 9.
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