24.09.2015 - Volkswagen Diesel Scandal: Qatar May Have Lost $4B Over VW Holdings
As fallout continues from the Volkswagen emissions-rigging scandal, Qatar, a small Middle Eastern oil-rich state, has been especially hard-hit. With its large stake in the German automaker, as well as in another suffering business, Glencore PLC, Qatar's sovereign wealth fund has lost as much as $4.6 billion since Monday, Bloomberg reported. Data compiled by Bloomberg showed that Qatar’s Investment Authority was the world’s largest holder of Volkswagen preferred shares. With the revelation last week that the software in popular Volkswagen cars, including Jetta and Passat models, had been rigged to report lower emission numbers than they actually produced in road , the company stock fell by more than 20 percent Monday, for a fall of over 30 percent so far this year...............................................Full Article: Source
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