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Volkswagen halts Traton's IPO plans

Volkswagen AG will not pursue an IPO of its truck and bus subsidiary, Traton SE, as planned due to current market conditions.

"In the current market environment, Volkswagen Aktiengesellschaft today decided to not continue with the preparation of an IPO of Traton SE for the time being," the company said March 13.

However, the German automaker said it plans to go for a public listing when the market conditions improve.