WOLFSBURG/MUNICH (dpa-AFX) - According to circles, the Volkswagen Group could use the increased price of Traton shares to sell shares in the coming weeks. The Group is considering selling shares worth between 500 million and one billion euros in the commercial vehicle holding company, the Bloomberg news agency reported on Monday, citing insiders. The amount would also depend on market conditions. A Volkswagen spokesman referred to statements made by CFO Arno Antlitz around the presentation of the first quarter figures at the end of April that VW could take steps in due course to increase the free float of Traton. Beyond that, the Group does not comment on market rumors, he said.

The Wolfsburg-based company holds around 90 percent of the Munich-based truck and bus holding company with the Scania, MAN, Navistar and South American VW Truck & Bus brands. Investors and analysts have long been calling for more Traton shares to be transferred to the free float in order to increase the liquidity of the SDax stock.

VW floated Traton on the stock exchange in 2019 at an issue price of 27 euros per share. The share price traded below this level for a long time, partly due to the coronavirus pandemic. It was only in March of this year that the share price managed to jump above the EUR 30 mark thanks to confident forecasts from the Traton management team led by CEO Christian Levin. The share reached a record high of 36.70 euros in April. On Monday, it lost 1.5 percent to 33.45 euros. The market valuation currently stands at a good 16.7 billion euros./men/he