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VW to hike dieselgate provisions to double digit bln amount: sources

Wednesday, April 20, 2016 - 23:30

[BERLIN] Volkswagen will raise its provisions to pay for an emissions cheating scandal to a double digit billion euros amount, from 6.7 billion euros (S$10.27 billion) at present, two people familiar with the matter said on Wednesday.

Regulators and prosecutors around the world are investigating Volkswagen after it admitted installing software in its cars to cheat exhaust emissions tests.

"The 6.7 billion euros will be substantially changed. For the full year it will be a double-digit billion amount," one the people, who declined to be named, said on Wednesday.

"It could be that there will be no dividend or it could be a small dividend but it will be under one euro," the source further said.

Volkswagen declined to comment.

REUTERS

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