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Qatar may buy Porsche stake
04 June 2009
Qatar is still considering taking a stake in Porsche, according to the Gulf state's finance minister.
Porsche is currently struggling to service its £7.8 billion of debt, which it ran up in a failed bid to gain a majority stake in rival Volkswagen. Recent reports had suggested that VW would now absorb Porsche in a merger deal.
Click here to read 'Porsche applies for £1.5bn loan'
"Our government is interested in acquiring a stake in Porsche. When and how much, I don't know. We are always looking for opportunities in the car market," Youssef Kamal told a conference in Russia.
Qatar's prime minister had previously said Qatar was considering taking a stake in a German car company, and specifically named Porsche as a potential target.
Abu Dhabi's state-controlled IPIC company recently purchased a 9.1 per cent stake in Daimler for almost two billion Euros (£1.7 billion), via exchange-listed investment vehicle Aabar.
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