Qatar ready to help Porsche take over VW

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Qatar is ready to help German carmaker Porsche take full control of Volkswagen, Europe's biggest carmaker, according to a report due out Monday in the German magazine Focus.

The emir of the gas-rich Gulf state has given his verbal agreement to Porsche boss Wendelin Wiedeking to take a stake via the Qatar Investment Authority, said the magazine.

A Porsche spokesman contacted by the news agency AFP refused to comment Saturday.