Volkswagen on Sunday said that it has no plans for a sale or an initial public offering of luxury brand Lamborghini, after Bloomberg reported that it was considering shedding the unit.

Bloomberg reported on Friday that Volkswagen was readying to fold Lamborghini into a separate legal entity, in a process that may wind up toward the end of next year, and to focus VW's future expansion on the group’s main global brands Volkswagen, Porsche and Audi.

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