Volkswagen’s proposed sale of Italian motorcycle manufacturer Ducati lacks the necessary internal support it needs to happen, according to a report July 29 by Reuters.

According to the news agency, the sale of Ducati is not supported by a majority of Volkswagen’s supervisory board, which must approve any asset sales. Members of the supervisory board representing the company’s employees hold half of the seats on the board and have officially announced their opposition to the sale. Reuters reports that unnamed sources have indicated that the Porsche and Piech families, which hold four seats on the 20-seat supervisory board, also do not support the sale of Ducati.

Volkswagen labor leaders told Reuters that anyone can look at Volkswagen’s six-month financial report and see that the company’s operating profit rose 19 percent to $10.5 billion and that the company does not need money.

Reuters reports that five potential buyers of Ducati have stepped forward with bids up to $1.76 billion and that American motorcycle manufacturer Harley-Davidson is one bidder and Italy’s Benetton family is another.

Read the entire article here: http://www.reuters.com/article/us-volkswagen-ducat…

In June, Reuters reported that Volkswagen was looking to divest Ducati (as well as some other assets) in order to fund a strategic restructuring of the auto maker following its devastating global emissions scandal.