Gulf state reported to be interested in 25 per cent stake in Porsche
9 June 2009

The Gulf state of Qatar is in talks to buy a stake in Porsche.

Reports suggest Qatar wants to take a 25 per cent stake in the cash-strapped company. Porsche has confirmed the talks, but has refused to specify the stake being discussed.

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The Financial Times newspaper is reporting that Porsche boss Wendelin Wiedeking has met with the state's Qatar Investment Authority (QIA), and says a deal could be announced within weeks.

Porsche currently has nine billion Euros (£7.8 billion) of debt, following its botched attempts to takeover VW.

In addition to investment from Qatar, it is seeking a union with VW and a German government loan of 1.75 billion Euros (£1.5 billion).

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