KFW Bank rejects Porsche’s loan request
By Andrew C., 30 Aug, 2010. 0 Comments
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Who says or thinks that everything is possible and every door is opened for big and famous companies is very wrong. Look at the case of Porsche, one of the most important car producer, which, after failing in taking over Volkswagen, didn't manage to secure a huge loan of 1.75 billion euro from several commercial banks. Their last hope was a loan at the German state-controlled bank KFW but also this turned into dust as the bank rejected their application. The company declared that they will stop trying to get a loan from any bank and it seems that they are in advanced discussion for selling its VW stake to Qatar, in the same time being they are being urged by VW to accept a merge.
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