Reports suggest talks are at an advanced stage; Qatar stake could also increase
22 June 2009

Daimler is in advanced talks to buy a stake in Porsche, according to reports in Germany.

Both companies deny the report as pure speculation, but news agency Reuters has said that the news should be taken seriously.

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The report follows the news that Qatar is also planning to take a larger stake than first expected in the struggling supercar maker.

Qatar is currently planning to take a 25 per cent stake, but it could rise to as high as 29.9 per cent.

The Qatar government is expected to announce its decision on buying the stake in the next two to three weeks.

Meanwhile, VW could also offer a loan to Porsche if asked, according to the firm’s chief financial officer Hans Dieter Poetsch.

“One would have to examine such a case if it arose,” he said. “If we give a loan, enough collateral needs to be there. Loans can only be given at an arm's length principle. There are no exceptions.”

Poetsch also said VW was expecting to announce a positive financial result for the second quarter of 2009, and it was on track for a “positive result for the full year.”

Mark Tisshaw

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