Oct 4, 2008

BERLIN (AFP) — Porsche boss Wendelin Wiedeking has managed to steer clear of the immediate fallout of the global financial crisis, telling a German newspaper that he has avoided investing in shares.

"I've never had any shares" the CEO of the iconic German sports car manufacturer was quoted as saying in the Frankfurter Allgemeine Zeitung on Sunday.

Instead Wiedeking said he preferred to invest into real estate, start-up companies, and even restaurants.

He said he had just realised one of his dreams by buying a cafe in the North-Rhine Westphalia region.

"The cafe is doing very well, I can recommend it to everyone: good food, good beer and reasonable prices," said Wiedeking.

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