Porsche chief Wendelin Wiedeking is preparing himself for 1 of his toughest board meetings on Thursday, when the debt-laden sports car maker’s fate could take a decisive turn. An EGM of the Porsche supervisory board is to review an offer by the state-owned Qatar Investment Authority for a stake in the company along with Volkswagen stock options owned by Porsche. Volkswagen, at the same time, has made a counter-offer to acquire almost 1/2 of the shares in Porsche, where Wiedeking, the current CEO, could be left standing by the side of the road. Porsche and Volkswagen, both holding their own supervisory board meeting on the same day in Porsche’s hometown of Stuttgart, want to establish an integrated auto group. The question is who will be behind the wheel. Qatar and creditor banks are keen meanwhile for Porsche and Volkswagen to end their epic boardroom battle.
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