Porsche Holding, Volkswagen's largest shareholder, writes down value of stake

Porsche Holding, the largest shareholder of Volkswagen, announced that it would write down the value of its Volkswagen shares by 7 billion euros to 20 billion euros. This decision was influenced by a variety of factors, including increased uncertainty in the market environment, lower-than-expected demand, geopolitical tensions and increased protectionist tendencies.