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

Published 04/20/2016, 11:01 AM
Updated 04/20/2016, 11:10 AM
© Reuters. File photo of a traffic light showing red next to the Volkswagen factory in Wolfsburg
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BERLIN (Reuters) - Volkswagen (DE:VOWG_p) will raise its provisions to pay for an emissions cheating scandal to a double digit billion euros amount, from 6.7 billion ($7.6 billion) euros 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.

© Reuters. File photo of a traffic light showing red next to the Volkswagen factory in Wolfsburg

Volkswagen declined to comment.

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