Qatar is in talks to buy a stake in Germany's Porsche and may also invest in other carmakers as the Gulf gas exporter looks to park some of its sovereign wealth abroad. Qatar's Al Arab newspaper reported Prime Minister Sheikh Hamad bin Jassem Al Thani as saying that Qatar was in talks with Porsche and was "seriously" considering taking a stake in the luxury carmaker. The official Qatar News Agency quoted Sheikh Hamad as saying the state was 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," Sheikh Hamad said. Germany's Focus magazine reported last week the Emir of Qatar had informed Porsche of his interest in buying a stake. Porsche Automobil Holdings, which declined to comment on the reports, has been struggling to cope with a net debt of €9bn as at the end of January. Keep up with the latest business news from the region with the Emirates Business 24|7 daily newsletter. To subscribe to the newsletter, please click here .