Editor: Chuck Penfold
German luxury sportscar maker Porsche says it’s negotiating with the Gulf state of Qatar as the exclusive candidate to buy a stake in the heavily-indebted company.
A Porsche spokesman in Stuttgart confirmed the news amid speculation of the possible involvement of a Middle Eastern investor. Details are still sketchy, but the Financial Times newspaper quoted sources close to the talks as reporting that the Qatar Investment Authority was interested in a stake of up to 25 percent in Porsche’s holding company.
Analysts say such an investment would considerably strengthen Porsche’s bargaining power in troubled merger talks with Volkswagen.