Hyperdrive
VW CEO’s Berlin IPO Summit Leaves Attendees Guessing on Strategy
- Investors clamor for more info on brand moves, investments
- Oliver Blume is cleaning house after stumbles by ex-CEO Diess
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Volkswagen AG’s Oliver Blume summoned top managers to a hip Berlin hangout in late January to strategize on how Lamborghini, Bentley, Skoda and Seat would pitch an initial public offering to investors.
The exercises the chief executive officer ordered after Porsche AG’s successful listing last year had advisers from McKinsey & Co. and Wall Street banks including Goldman Sachs Group Inc. salivating over a potential role in VW’s next blockbuster IPO.