Porsche SE, the holding company owned by the Porsche and Piech family, dismissed reports on Monday that it is considering selling its shares in Volkswagen (ETR:VOWG_p).

The family currently controls the majority voting rights of Volkswagen with a stake just over 53%.

German tabloid Bild had reported that family members were discussing the possibility of reducing their stake to either 50% or 45%.

In response to this report, a spokesperson for Porsche SE stated that the company is not currently contemplating the sale of Volkswagen shares and there are no concrete plans to do so in 2024.