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Friday 24 September 2021
HomeWorldQatar wants Porsche

Qatar wants Porsche

Qatar’s prime minister says the energy rich country is considering taking a stake in German luxury automaker Porsche.

Qatar’s Al-Arab newspaper on Tuesday quoted Sheik Hamad bin Jassem Al Thani as saying there are ongoing discussions about buying into Porsche, but no final decision had been reached.

The comments come after Germany’s Focus magazine reported last week Qatar was interested in acquiring a stake in Porsche.

Natural gas-rich Qatar has so far weathered the global economic meltdown better than most of its Persian Gulf peers. But an investment fund run by the government last week sold 35 million shares in Barclays, cutting its stake in the British bank to 5.8 percent.

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