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Porsche to debate 5 bln eur Qatar stake buy -source

Fri Jul 10, 2009 8:20am EDT

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STUTTGART, Germany, July 10 (Reuters) - Indebted automotive holding group Porsche SE (PSHG_p.DE) will discuss a possible investment by Qatar worth over 5 billion euros ($6.97 billion) during a supervisory board meeting on July 23, a source said on Friday.

The Stuttgart-based holding's board will also debate a possible sale of 49 percent stake of wholly-owned sports car unit, Porsche AG, to Volkswagen (VOWG.DE) at the meeting, the person added. Porsche SE, which controls 51 percent of VW's voting stock, confirmed that Chairman Wolfgang Porsche has called an extraordinary supervisory board meeting for July 23. (Reporting by Hendrik Sackmann, writing by Christiaan Hetzner)



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