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Posted On: 1 July 2009 12:03 pm
Updated On: 12 November 2020 02:09 pm

Porsche confirms Qatar offer to invest in firm 1/JUL/2009

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Source :AFP Qatar has offered to invest in debt-laden German sports car maker Porsche and to buy stock options it holds in Volkswagen, a Porsche spokesman said. “We have received an offer from Qatar for the acquisition of a participation and a purchase of options on Volkswagen shares,” he said late Monday. The offer would serve as a basis for further talks, but must be examined by the Porsche and Piech families, which own all of the voting rights in Porsche, he added. Sources close to the talks were quoted by the Frankfurter Allgemeine Zeitung newspaper yesterday as saying that Qatar had made it known that it would like to see the creation of an integrated group that included both companies.