But its shares have largely trod water over the past three years despite it recovering from the diesel scandal and some analysts touting its ability to boost profit margins substantially. Norway’s sovereign wealth fund has cut its €1bn ($1.1bn) stake in Volkswagen to 0.77% from 1.32% amid a dispute about corporate governance and the company’s diesel emissions scandal. The $1tn oil fund had been VW’s largest independent voting shareholder for six years. Almost 90% of the company’s shares are owned by the Porsche-Piech family, the State of Lower Saxony and Qatar. In Germany, VW is being investigated over allegations that it installed software designed to cheat on pollution tests during the development phase of diesel-powered cars. The Norwegian fund is among investors suing VW over the emissions scandal.
Norway’s sovereign wealth fund has cut its €1bn ($1.1bn) stake in Volkswagen to 0.77% from 1.32% amid a dispute about corporate governance and the company’s diesel emissions scandal. The $1tn oil fund had been VW’s largest independent voting shareholder for six years. Almost 90% of the company’s shares are owned by the Porsche-Piech family, the State of Lower Saxony and Qatar. In Germany, VW is being investigated over allegations that it installed software designed to cheat on pollution tests during the development phase of diesel-powered cars. The Norwegian fund is among investors suing VW over the emissions scandal.