Kathmandu, September 24. Qatar's sovereign-wealth fund may have lost billions of dollars in just two days from its stakes in Volkswagen. Qatar Investment Authority is the biggest holder of VW'S preferred shares and the third largest owner of its ordinary stock. It owns 17% share capital in the Volkswagen. German Investors are also likely to be affected by the decline in the stock price. Volks wagen issued a profit warning on Tuesday, saying it will not meet its earnings targets for this year. It said it was setting aside 6.5 billion Euro to deal with the issue, but added the "amounts may be subject to revaluation,".
Volkswagen's emission cheating scandal has wiped out a third of the company's overall value i.e. 25 billion Euro. But shareholders are likely to see their investment suffer even more. Its shares closed down 17% on Monday and slid another 17.6% on Tuesday as more details emerged about how the German carmaker rigged its emission test results.
'The shareholders are the biggest victims of this… they are losing a lot of money. Wherher this translates to a reduction in demand remains to be seen,"Theo Vermaelen, Professor of finance at INSEAD business School, said.
