Wendelin Wiedeking was a savvy manager who saved Germany's Porsche from the brink and transformed it into a firm as impressive as one of its roaring sports cars.
Speculation mounted on Friday on whether embattled Porsche executive Wendelin Wiedeking would keep his job amid moves to merge the carmaker with Volkswagen.
Owners of sports carmaker Porsche are close to an agreement which would combine the heavily indebted company with Volkswagen and sell VW stock options to Qatar, according to press reports on Thursday.
The Gulf emirate of Qatar has offered €7 billion ($9.8 billion) for a stake in Porsche, which would allow the German luxury sports carmaker to clear a large part of its debts, a report said Saturday.
German sports car maker Porsche rejected Saturday an "ultimatum" issued by Volkswagen to accept by Monday a proposal for cross-ownership leading eventually to a merger.
Qatar’s interest in taking a stake in German luxury carmaker Porsche is in danger amid hesitation from its main shareholders, the Financial Times Deutschland reported on Wednesday.
German luxury sportscar maker Porsche said Tuesday that the state of Qatar was negotiating with it as the exclusive candidate to buy a stake in the heavily-indebted company.