Volkswagen has announced its intention to float sports car brand Porsche.

Volkswagen has published an intention to float for an initial public offering in late September or early October to be completed by the end of the year.
 

Sources close to the negotiations told Reuters that Volkswagen may extend the four-week period for buyers to express interest, or pull its plans altogether, should investors not show enough enthusiasm to make the move worthwhile. 
 

Investors expect a valuation between €60 billion and €85 billion. While the Porsche brand is strong, valuations of other luxury carmakers such as Aston Martin and Ferrari have been falling.
 

At the high end of estimates, the IPO could be among the largest in German history and the biggest in Europe in recent years.