German carmaker Volkswagen has put the 1.5 billion-euro ($1.8 billion) sale of Ducati motorcycles on hold after resistance from German trade unions and internal rifts on strategy, sources familiar with the matter told Reuters. Ducati is wholly controlled by VW's luxury brand Audi, which is at odds with the parent over strategy, and a decision to sell the 91-year old business, which is based in the Borgo Panigale district of the northern Italian city of Bologna, needs to be approved by VW's supervisory board. Labour leaders at VW, who hold half the seats on the 20-member ...
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Volkswagen's $1.8 bn Ducati sale stalls at union roadblock, strategy rift
The auction had been expected to wrap up later this year with binding bids due in October
Reuters |
First Published: Tue, September 05 2017. 09:48 IST
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