Qatar's 25 per cent stake in Porsche likely to be announced soon

Qatar’s prime minister has said an announcement will be made within two weeks about the outcome of talks regarding the country buying a stake in Porsche.

It is reported that the Porsche and Piech families who control Porsche are in favour of Qatar taking a 25 per cent stake in the debt-ridden German manufacturer.

Speaking at a conference for Qatari businessmen, prime minister Sheikh Hamad bin Jassim al-Thani said a deal was likely to be revealed within a fortnight, but further details were not available until then due to confidentiality agreements.

Should the Qatar stake purchase go ahead, the Porsche and Piech families would have to give up their controlling interest, but the reduction in debt would clear the way for Porsche’s merger with VW.

Mark Tisshaw

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