Porsche confirms Qatar talks
The Gulf condition of Qatar is within foretells purchase a stake in Porsche.
Reports suggest Qatar really wants to have a 25 percent stake within the cash-strapped company. Porsche has confirmed the talks, but has declined to specify the stake being discussed.
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The Financial Occasions newspaper is reporting that Porsche boss Wendelin Wiedeking has met using the state’s Qatar Investment Authority (QIA), and states an offer might be announced within days.
Porsche presently has nine billion Euros (￡7.8 billion) of debt, following its botched tries to takeover VW.
Additionally to investment from Qatar, it’s seeking a union with VW along with a German government loan of just one.75 billion Euros (￡1.5 billion).