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Qatar eyeing more German investments

AFP · 17 Dec 2010, 17:23

Published: 17 Dec 2010 17:23 GMT+01:00

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"We've only just begun in Germany," Kamal told the Financial Times Deutschland in an interview, adding the emirate has its eye on the IT sector and the small- and medium-sized firms that form the backbone of Europe's top economy.

Sovereign wealth fund Qatar Holding has an estimated $100 billion under management.

"We have already begun negotiations with some small and medium firms," the minister said without citing individual companies.

"We have to import everything, including construction expertise ... This is an opportunity for German firms," he said.

Earlier this month, Qatar bought a 9.1-percent stake in Hochtief, a company which is the subject of a takeover bid from Spanish rival ACS. Hochtief is now eyeing some juicy contracts as Qatar prepares to host the 2022 Soccer World Cup.

Story continues below…

Qatar holds some 17 percent of Volkswagen. Outside of Germany, Qatar owns 26 percent of British supermarket chain Sainsbury and 100 percent of Luxury department store Harrods.

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Your comments about this article

15:00 December 19, 2010 by sheruzb
That's embarassing, once Beckenbauer told he had doubts concerning how Qatar and Russia were elected to host World Cups? The Qatar arabs started to bribe with investment the German authorities, maybe they should have paid that to Beckenbauer so he shuts his mouth and cost less. And now look at that they spent billions of money just to host the World Cup, but they won't spent single dollar to the poor neignbours, Yemen and etc.....
18:08 December 19, 2010 by yhsanjay
"And now look at that they spent billions of money just to host the World Cup, but they won't spent single dollar to the poor neighbours, Yemen and etc....."


Thats about the rich and poor in the Arab world.

They have trillions of petrodollars and should rather also invest in Germany.
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