At the recent Porsche general staff meeting, Porsche CEO Wiedeking expressed his views on the latest media frenzy around the Porsche - Volkswagen relationship. Implying that Porsche will not be taking over Volkswagen, he said Porsche will operate independently of Volkswagen’s decisions. But that doesn’t seem like the case here.
According to a banker involved in the Porsche/Volkswagen transaction, Porsche has borrowed $13.7 billion from 37 lenders to finance the purchase of its remaining Volkswagen shares.
Porsche officially submitted an...
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