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Why was Porsche in trouble after that because of a meager 15 billion debt? Couldn't they just sell VW stock for a fortune after it rallied high?
by ralfd 7y ago
Why was Porsche in trouble after that because of a meager 15 billion debt? Couldn't they just sell VW stock for a fortune after it rallied high?
- sek 7y agoThey had all the control and wanted to keep it. VW had a lot of cash but they couldn't just take it because 20% of it belonged to Lower Saxony and probably tax reasons. So they gave a loan with better conditions to Porsche from VW. It was not really a bailout, it was more of a restructuring.