Belfast Telegraph

Volkswagen to repay European loans early amid diesel scandal fallout

Volkswagen has said it will repay early a pair of loans from the European Investment Bank totalling 975 million euro (nearly £850 million) as the company grapples with fallout from its diesel emissions scandal.

Volkswagen said the loans were approved at the end of 2014, and stressed that the repayment decision was voluntary.

The company said it decided on the move "to defuse the public debate" in view of investigations into the scandal surrounding emissions-cheating software, but that there is no direct connection of any kind between the loans and the diesel issue.

Volkswagen faces investigations by various authorities in the emissions scandal.