VW is pushing into the car rental market: According to a report, the company wants to acquire a stake in Sixt – with 15 percent. Volkswagen has not yet commented.
According to a magazine report, Volkswagen wants to acquire a stake in the car rental company Sixt. The Wolfsburg-based carmaker is planning a stake of 15 percent, probably split into common and preferred shares. The “Manager Magazin” reported on Wednesday, citing sources from the group’s environment.
Common and preferred shares
When investors buy common stock, they have the right to vote at the general meeting. Preferred stocks, on the other hand, often offer a higher dividend, i.e. a share in the company’s profits. Their owners have no voting rights for this.
The majority of the voting rights belong to the Sixt family, the company is planning a capital increase. Otherwise the family would have to give up shares that they do not want. Volkswagen declined to comment. “We do not comment on speculation,” said a spokesman for Reuters news agency.
According to the magazine, it would be Volkswagen’s third attempt to acquire a stake in Sixt. Sixt investors seemed to have been pleased with the news. The car rental company’s common stock rose at times by more than four percent in the afternoon.