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Morgan Stanley Dieselgate Decision Cost It Top Porsche IPO Role

  • Bank pulled financing for Volkswagen during emissions scandal
  • Morgan Stanley was pitching for a top role on mega listing

Morgan Stanley’s decision to stop financing Volkswagen AG during the height of the diesel emissions scandal cast a long shadow on its attempts to land a top role on the blockbuster Porsche listing, people familiar with the matter said.

The Wall Street giant was among select banks that pitched to help lead the initial public offering of VW’s iconic sports-car brand, which could be valued at 90 billion euros ($99 billion), the people said, asking not to be identified discussing confidential information.