Volkswagen Shares Slides on Media Report

Shares of Volkswagen fell over 4% after a Bloomberg report stated that the U.S. government is evaluating the size of the fine it will impose on the automaker without closing down its business.

U.S. Environmental Protection alleged the German automaker has been cheating on American air pollution tests last year in diesel vehicles issued between 2008 and 2015. A civil complaint was consequently filed by the Justice Department against Volkswagen after it admitted being guilty of the accusations.

Volkswagen agreed to pay a $16.5 billion civil litigation fine in the US. and now the two parties are looking to reach an agreement by January according to sources.

The carmaker's U.S.-listed stocks have lost 10% this year to date.

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