VW Shares Sold for $1.19 Billion by Waddell & Reed
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Volkswagen AG preferred shares were sold for 914 million euros ($1.19 billion) by Waddell & Reed Financial Inc., after the stock touched a four-month low yesterday on the automaker’s 2013 outlook.
The 5.78 million shares were sold for 158 euros per share, a 4 percent discount to yesterday’s close, Deutsche Bank AG said in a statement today. Waddell & Reed owned 6.37 million shares before the sale, according to data compiled by Bloomberg.