Siemens: Auto eject

Klaus Kleinfeld took up the reins at Siemens with a plan of restructuring the German conglomerate. So why is he dithering over a sale of VDO? The German boss intends to hive off the unit, which makes electronics for cars - admitting there aren’t any synergies. And Siemens doesn’t want to fund VDO’s growth with its own capital, say people familiar with the situation. Yet rather than put the highly saleable unit on the block, Kleinfeld is going instead for a partial IPO. VDO is a clear case for d...