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Volkswagen sets aside 5.5 billion euros in contingent liabilities for diesel scandal

Volkswagen

Volkswagen said it has set aside 5.5 billion euros ($6.16 billion) in contingent liabilities to cover possible risks arising from a diesel cheating scandal, chief financial officer Frank Witter said on Thursday.

With the release of quarterly earnings on Thursday VW revealed it had set aside 1 billion euros in risk provisions to help pay for the diesel emissions cheating scandal, taking the overall cost of diesel cheating to 30 billion euros.

Source: Reuters

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