Porsche has confirmed it is in advanced talks with several investors to sell its shares in Volkswagen.
One of the key investors is Qatar Holding, the investment arm of the Qatari government, and it is likely to take a stake in the Porsche company, as well as buying VW shares.
The sale of these shares is likely to see Porsche post a loss of five billion euros (£4.25bn) at the end of its current financial year.
The figure will also include VW's figures, in which Porsche increased its stake in January to 50.76 per cent.
The Volkswagen Group today announced an operating profit of more than £1 billion for the first half of 2009.
VW board member Martin Winterkorn said: “The course of the year so far shows that we are excellently positioned, thanks to our multibrand group model.
“Even in a particularly difficult phase in the international automotive markets we were able to gain share in key markets. This has further improved our position on our way to the top.”
VW has increased its global market share in the first six months of the year increased to 12 per cent.
Twitter - follow autocar.co.ukSee all the latest Porsche reviews, news and video
Add your comment