Qatar is in talks to buy a stake in Germany's Porsche
Qatar is seriously considering taking a stake in the luxury sports car manufacturer, Prime Minister Sheikh Hamad bin Jassem al-Thani told Qatar's Al-Arab newspaper in remarks published on Tuesday.
Focus magazine reported last week that the Emir of Qatar had informed Porsche of his interest in buying a stake.
The official Qatar News Agency quoted Sheikh Hamad as saying the state is eyeing automotive companies, including German carmakers.
We are looking into this issue, but we have yet to make a final decision on the matter ... There are meetings, he was quoted as saying by the agency.
Soaring oil prices had fueled a six-year boom across the Gulf Arab region that saw sovereign wealth funds flush with liquidity make investments all over the world.
But those funds have lost billions as financial markets plummeted in recent months, while Gulf Arab governments have lost revenue as oil prices fell to a third of their peak.
Gulf states promised to keep spending at home to maintain growth but said they would seek to snap up bargains once markets began to settle.
Abu Dhabi's state-controlled IPIC last month bought a 9.1 percent stake in Daimler
Abu Dhabi, capital of the world's third-largest oil-exporter the United Arab Emirates, has made a number of international purchases in recent months.
Qatar is the biggest shareholder in Barclays Plc
It cut its stake in the lender to 5.8 percent from just over 6 percent, Sheikh Hamad told QNA that was a technical matter.
Qatar, the world's biggest liquefied natural gas exporter, stands to grow 7-9 percent in real terms this year despite the global downturn.
(Reporting by Dania Saadi; Editing by Lin Noueihed, John Stonestreet)