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Volkswagen AG canceled plans to sell a share of its Traton SE division due to weak market conditions, dealing a setback to the automaker’s plan to generate fresh funds for the heavy-truck unit’s expansion outside Europe.

“We regret that we have to refrain from a stock listing of Traton SE,” Chief Financial Officer Frank Witter said Wednesday. “The management board continues to aim for a stock listing in a better market environment.”

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