Porsche is moving towards entering a deal with Qatar to reduce its ten billion euro debt. Wolfgang Porsche has called a board meeting on July 23 to discuss the Qatari investment. VW also has organized a separate board meeting that same day.
Porsche owns a 51% holding stake in VW, which wants the two companies to merge. Porsche said that it would rather do a deal with Qatar, which is willing to invest five billion euro, according to Reuters.
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