Lower Saxony Says Report That State Will Sell Shares in Volkswagen Rumor

Roman Haase, a spokesman for Lower Saxony, declined to confirm or deny a Deutsche Presse-Agentur report that the German state government may sell part of its stake in Volkswagen AG.

“We do not confirm or deny rumors,” Haase said by telephone today.

Lower Saxony plans to sell VW shares as part of the government’s budget review, Deutsche Presse-Agentur reported, without citing anyone. Lower Saxony owns a 20 percent stake in Wolfsburg, Germany-based VW.

Lower Saxony Prime Minister David McAllister told Bloomberg News in a June 24 interview that he stands “rock solid” behind the state’s 20 percent stake in the automaker.

To contact the reporter on this story: Cornelius Rahn in Frankfurt at crahn2@bloomberg.net

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