Porsche to sell its shares in Volkswagen
By Andrew C., 30 Aug, 2010. 0 Comments
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Porsche is near to an agreement to sell its shares in Volkswagen to several investors, one of which is Qatar Holding, the investment arm of the Qatari government. Qatar Holding is believed likely to take a stake in Porsche, as well as acquiring VW shares. With the sale of these shares, Porsche will likely post a loss of five billion euros at the end of its current financial year. This figure will also include losses incurred by VW, in which Porsche raised its stake last January to 50.76%. [via autocar]
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