Qatar makes a bid for Porsche
By Andrew C., 30 Aug, 2010. 0 Comments
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Although still unconfirmed, the media have been buzzing about the Gulf state of Qatar making a bid for Porsche. German newspaper Der Spiegel believes that Qatar has offered about seven billion euros for a 25% stake in Porsche, plus its Volkswagen AG stock options. The report also says that Volkswagen offered four billion Euros for 49.9 percent of Porsche's car making operations. Porsche owns 51% of VW, plus options for 20% more of the shares. On July 23, the Piech and Porsche families, who control Porsche, will hold a supervisory board meeting to discuss the bids.
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