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MarketScreener Homepage  >  Equities  >  Xetra  >  Volkswagen    VOW3   DE0007664039

VOLKSWAGEN

(VOW3)
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Volkswagen AG : Germany To Aggressively Defend 'Volkswagen Law' - Report

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03/21/2012 | 04:24am EDT

The German government will aggressively defend the country's "Volkswagen Law" at the European Court of Justice against the European Commission, which is suing Germany for the second time over the regulation, German newspaper Handelsblatt reports Wednesday, citing Economy Minister Philipp Roesler.

The law, which effectively shields German car maker Volkswagen AG (VOW.XE) from hostile takeover, guarantees the state of Lower Saxony a blocking minority in the company over certain decisions such as takeovers. This regulation has been long been criticized by the European Union for allegedly breaching competition rules, while Germany has defended the law on strategic grounds.

The Volkswagen law was revised in 2008 to meet the requirements of the court's judgement in 2007, and the fact that the Commission has decided to take new action four years later is difficult to fathom, Roesler is cited as saying.

"The federal government is clearly supporting the VW law and will aggressively defend it before the court," Roesler adds.

Newspaper website: http://www.handelsblatt.com

-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500.

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Financials (€)
Sales 2019 242 B
EBIT 2019 17 910 M
Net income 2019 13 980 M
Finance 2019 25 068 M
Yield 2019 3,85%
P/E ratio 2019 5,51
P/E ratio 2020 5,40
EV / Sales 2019 0,22x
EV / Sales 2020 0,19x
Capitalization 79 153 M
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Number of Analysts 29
Average target price 190 €
Spread / Average Target 22%
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Herbert Diess Chairman-Management Board
Hans Dieter Pötsch Chairman-Supervisory Board
Frank Witter Head-Finance & Information Technology
Peter Mosch Member-Supervisory Board
Bernd Osterloh Member-Supervisory Board
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