German media reports claimed Porsche had received five bids for its VW voting stake
6 July 2009

Porsche has denied reports that it has received up to five bids for its stake in VW.

German media reports over the weekend suggested that Porsche was willing to sell part of its voting stake in VW to raise funds but a Porsche Germany spokesman dismissed these claims.

Porsche had reportedly received offers from China and Russia, as well as from hedge funds.

Twitter - follow autocar.co.uk

Members of the Porsche board are set to meet in the next fortnight to discuss the bid from Qatar for a stake in the struggling sports car manufacturer. The outcome of these talks is likely to dictate any potential merger between Porsche and VW, with a decision expected by 15 July

Porsche currently owns a 51 per cent stake in VW but its precarious financial position has led to VW reportedly putting pressure on Porsche for the two firms to merge.

Funding options for Porsche seem to be drying up after a leading German politician said it would be unlikely Porsche would receive anymore money from state banks.

Hans-Ulrich Ruelke, chairman of one of the two ruling parties in Germany, said it would be difficult to receive any additional funds because of the large amount of state loans it had already received.

See all the latest Porsche reviews, news and video

Mark Tisshaw

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • Kia Stonic
    First Drive
    18 October 2017
    Handsome entrant into the bulging small crossover market has a strong engine and agile handling, but isn’t as comfortable or complete as rivals
  • Hyundai Kona
    First Drive
    18 October 2017
    Hyundai's funky-looking Kona crossover with a peppy three-cylinder engine makes all the right noises for the car to be a success in a crowded segment
  • Citroën C3 Aircross
    First Drive
    17 October 2017
    The Citroen C3 Aircross has got funky looks and a charming interior, but it's another small SUV, and another dynamic miss. Numb steering is just one thing keeping it from class best
  • Skoda-Karoq 2.0 TDI 4x4
    First Drive
    16 October 2017
    Diesel version of Skoda’s junior SUV is unobtrusive and undemanding, but we’d still go for the silkier petrol version of the Karoq
  • Audi Q7 e-tron
    First Drive
    16 October 2017
    Expensive and flawed but this understated diesel-electric Audi Q7 has a lot to offer