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BREAKING: Porsche offices raided on suspicion of stock manipulation

The soap opera surrounding Volkswagen AG and Porsche has just taken a turn for the legal, as Bloomberg reports that the company's German offices have been raided by prosecutors who are investigating whether the automaker has violated security laws. The German prosecutor's office seized documents amidst the allegations of stock price manipulation and insider trading, prompting Porsche to issue a statement denying the allegations while vowing complete cooperation (available after the jump). The probe stems from the sports car maker's attempt to ... Read more →

Qatar buys 10 percent of Porsche, options for 20 percent of VW Sam Abuelsamid

The era of the Porsche and Piech families controlling the German sports car maker looks like it will soon be drawing to a close of sorts. Following quickly after yesterday's approval by the ...

Did you think the VW-Porsche deal was done? Nein. Jonathon Ramsey

When Volkswagen and Porsche sat down at dinner to discuss which one was going to eat the other one, they forgot to invite the German tax man. After VW came to terms with Porsche to take a 49.9% stake ...

Porsche loan request rejected by Germany's state bank Chris Shunk

Porsche is profitable and it owns a big chunk of the far larger Volkswagen, yet cash seems to be in short supply. Automotive News is reporting that the world-renowned luxury sports car maker's 1.75 ...

REPORT: VW leans on Porsche, Porsche responds, "We will not accept extortion." Jonathon Ramsey

Porsche maintains it still has its mojo, but Volkswagen is treating the company like Porsche's got lunch money and VW is hungry. VW -- which Porsche effectively owns -- loaned Porsche €700 ...

Porsche nearing sale of 25% stake to Qatar? 6 months ago on Autoblog

After a few years of financial windfalls, Porsche is suddenly in need of plenty of capital. The German automaker already received a 700 million euro ($978 million U.S.) bridge loan from Volkswagen in March to stay out of bankruptcy, and it is reportedly in talks with banks to secure 1.75 billion ...

Porsche reportedly closing in on Qatar investment deal 6 months ago on Autoblog

It's a match made in heaven: Porsche needs money, Qatar has tons of it. Any questions? Following deals that have seen Kuwaiti firms take control of Aston Martin and Abu Dhabi investing in Daimler and Ferrari, Porsche is reportedly closing in on a deal that would see the Qatar state government ...

22-year-old sheik spending $10M a year to become the Yankees of drag racing? 7 months ago on Autoblog

There are a number of parallels with an all-American tale of racing fan turned team owner: Man loves drag racing since boyhood, comes from a region crazy for the sport, started off in racing's little league, and races to win even in the big leagues. Yet the differences are enough to inform us that ...

Qatar pondering taking stake in Porsche? 7 months ago on Autoblog

The worst secret in the universe is that there's a lot of money in the Middle East and the Gulf states are looking all over the world for places to put it. Abu Dhabi's Aabar investment spent €1.95 billion on a 9.1% stake in Daimler (around $2.5B USD), and now the state of Qatar is eying what ...

Ferrari Store - Los Angeles opens in the Beverly Center 2 years ago on Autoblog

Click image for high-res gallery of photos by Las de Alwis It's about time. That seemed to be the consensus of the invited guests at the grand opening of the Ferrari Store - Los Angeles. Coinciding with the marque's 60th Anniversary world rally, the store held its grand opening celebration on ...

Ferrari boutique opens in Qatar 3 years ago on Autoblog

A new Ferrari Store has opened in Qatar. The boutique shop sells Ferrari accessories at the Alfardan Automotive Center. It's the first store of its kind in the Middle East, which has continued to grow as a leading market for Maranello's finest. Similar to the store at The Wynn in Las Vegas, the ...






Autoblog Podcast #157: 'Twas a couple nights before Christmas...

Chris, Editor Paukert, and Dan send the Podcast off for the Christmas holiday in proper fashion

 
 

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