Abu Dhabi Interested in Buying Large Stake in VW

Oil-rich emirate Abu Dhabi wants to become a large shareholder in Volkswagen. VW CEO Bernd Pischetsrieder announced that the Persian Gulf sheikdom was interested in investing in Europe's biggest car manufacturer at the company's annual stockholders' meeting. The German state of Lower Saxony, VW's largest shareholder, welcomed Abu Dhabi's move. Premier Christian Wulff said Abu Dhabi would make "an interesting partner." In the course of a state visit to Berlin, a delegation from the emirate plans to sign an agreement with VW on the two parties' takeover of Dutch bank Amro's fleet management business next week at VW headquarters in Wolfsburg and to get a closer look at its possible investment. Pischetsrieder also told stockholders at the annual meeting that VW's first quarter returns would be "miserable."