GERMANY: Qatar likely to take Porsche stake
The Emir of Qatar has given his verbal commitment to buy into Porsche via his state fund, German magazine Focus reported at the weekend.
Porsche would say only it was in contact with investors, Financial Times Deutschland said.
A contract has not been signed yet but the decision is to be made by mid-June, the magazine said.
According to the report, the Gulf state is considering whether to buy into Porsche subsidiary Volkswagen (VW) via the purchase of stock options in the parent compnay or to take a direct stake in Porsche Holding which holds 51% of VW.
In the first case, Qatar would become VW's shareholder while Porsche would get rid of part of its debt.
Lower Saxony's premier and VW's supervisory board chairman Christian Wulff has no objections against a deal with Qatar, the report added.