January 18, 2016 / 10:19 AM / 4 years ago

Bafin probe of Volkswagen likely to take several more months

FRANKFURT, Jan 18 (Reuters) - German financial watchdog Bafin said its probe of whether Volkswagen breached disclosure rules when it admitted to falsifying U.S. emissions tests in September will likely take several more months.

“Due to the administrative processes that must be adhered to and considering the complexity of the issue at hand, the investigation will take some more time... Results of the investigation can very likely only be expected in several months,” Bafin told Reuters on Monday.

Volkswagen’s shares have lost 34 percent of their value since the emissions scandal broke in September, wiping 22 billion euros ($24 billion) off Volkswagen’s market cap. ($1 = 0.9178 euros) (Reporting by Andreas Kroener; Writing by Maria Sheahan; Editing by Harro ten Wolde)

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