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Wednesday, 26 January 2011

Qatar to Win Second VW Board Seat, Lower Saxony Says

Volkswagen AG's third-largest shareholder Qatar Holdings LLC will receive another supervisory board seat after the annual general meeting in May, Lower Saxony Prime Minister David McAllister said in an interview.

"It's pretty obvious that Qatar will get a second seat," McAllister, who represents Lower Saxony on the board, said today in Doha. "We are very glad that Qatar has committed itself." Lower Saxony is VW's second-biggest owner.

Qatar Holdings LLC, part of the country's sovereign wealth fund, has a 17 percent VW stake and one representative on the board. The fund also has a holding in Porsche SE.

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