VW’s main shareholder Porsche SE will subscribe up to 20 billion euros to the Reuters investment

BERLIN (Reuters) – Porsche SE, the holding company that owns a third of Volkswagen ( ETR: ), expects to write down the value of its investment in the carmaker by up to 20 billion euros ($20.98 billion), it said on Friday.

It also expects to write down its investment in luxury car maker Porsche AG by up to 2 billion euros, based on analysts’ expectations for the two companies.

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