Sign in Register
Posted On: 20 December 2009 01:14 pm
Updated On: 12 November 2020 02:10 pm

Qatar set to occupy seat on VW’s supervisory board

Paper Boy
Paper Boy
Discuss here!
Start a discussion
Qatar has a 17 percent voting stake in Volkswagen and is set to take a seat on Porsche’s supervisory board, underlining the more active role Gulf states are playing in the German auto industry. After exercising options in Volkswagen—as was expected by market participants for some time — Qatar Holding LLC now holds 17 percent in Volkswagen, it said. “As a long-term strategic investor, we continue to believe that the investment in VW and the envisaged combination of Porsche SE and VW represents a unique investment asset for Qatar Holding,” said Ahmad Al Sayed, CEO of Qatar Holding. The move also fuels concerns that the falling number of freely traded VW ordinary shares could mean they are replaced on Germany’s bluechip index by its preferred shares. Reuters