As the world is waiting to see what will be the outcome of Qatar-Porsche talks regarding acquisition of 25 percent (some say 29.9) of the German sportscar maker’s shares, rumor has it that three more bidders have shown interest to negotiate a deal with the company. New bidders include Chinese and Russian sovereign wealth funds.
This news is based on a report by German business magazine Focus (www.focus.de). Porsche is currently in exclusive talks with the gulf state of Qatar, and apparently they are going to offer Arabs their share in VW, instead of direct stake in Porsche. Although Qatari authorities have announced that they are more interested in Porsche itself!
Porsche denies other bidders
Despite the media speculations, Porsche says that they are only engaged in talks with Qatar at this stage and they entirely deny the report of new bidders. Officials say that the decision on the Qatar deal will be made before July 15. Negotiations are taking a bit too long now and this raises a controversy if the parties are ever going to arrive at a deal. If they reach an agreement, Qatar will help Porsche to pay their huge debts and instead becomes a major shareholder of the company or it’s parent VW.