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MarketScreener Homepage  >  Equities  >  Xetra  >  Volkswagen AG    VOW3   DE0007664039

VOLKSWAGEN AG

(VOW3)
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Volkswagen : VW rejects anti-competitive allegation by parts maker Prevent

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11/19/2019 | 11:24am EST
International Frankfurt Autoshow IAA in Frankfurt

Volkswagen on Tuesday rejected claims it had engaged in anti-competitive behavior after parts supplier Prevent Group sued the German carmaker in the U.S. District Court in Detroit.

The lawsuit said that Volkswagen had extracted written agreements from suppliers not to sell to Prevent, which amounted to anti-competitive behavior.

"This suit is completely unfounded. We will vigorously contest it using all the judicial procedures available to us," VW said in a statement, adding that Prevent had disrupted production by halting deliveries in Germany in 2016 and 2018.

Prevent said it a statement it was seeking damages in excess of $750 million, alleging Volkswagen used its market power to squeeze smaller suppliers who had to comply with "unfair terms and prices" or face bankruptcy.


In 2016https://reut.rs/2OnW5fN, Volkswagen and two of its suppliers, one which was part of Prevent, resolved a contract dispute that had hit output at more than half of the automaker's German plants.

(Reporting by Jan Schwartz in Hamburg, Sanjana Shivdas in Bengaluru; Editing by Arun Koyyur and Alexander Smith)

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Financials (EUR)
Sales 2019 249 B
EBIT 2019 17 812 M
Net income 2019 13 750 M
Finance 2019 21 780 M
Yield 2019 3,44%
P/E ratio 2019 6,64x
P/E ratio 2020 6,31x
EV / Sales2019 0,28x
EV / Sales2020 0,25x
Capitalization 91 120 M
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Mean consensus BUY
Number of Analysts 30
Average target price 199,66  €
Last Close Price 183,30  €
Spread / Highest target 32,0%
Spread / Average Target 8,93%
Spread / Lowest Target -22,0%
EPS Revisions
Managers
NameTitle
Herbert Diess Chairman-Management Board
Hans Dieter Pötsch Chairman-Supervisory Board
Frank Witter Head-Finance & Information Technology
Peter Mosch Deputy Chairman
Bernd Osterloh Member-Supervisory Board
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