Saturday 4 July 2009

More bidders interested in Porsche stake

Porsche SEImage via Wikipedia

Three more bidders are interested in taking a stake in German sports car maker Porsche, rivalling investment plans by Qatar, German magazine Focus reported on Saturday.

In an advance release of remarks due to be published on Monday, Focus said without citing sources that a Chinese and a Russian sovereign wealth fund as well as a hedge fund were interested.

A Porsche spokesman declined to comment on the report.

Porsche, which owns 51 percent in Volkswagen, is seeking an outside investor after amassing 9 billion euros ($12.6 billion) in debt during a bungled attempt to dominate VW.

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