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Porsche incurs EUR14bn in debt.

Auto Business News-27 July 2009-Porsche incurs EUR14bn in debt(C)2009 ENPublishing -

Auto Business News - 27 July 2009(c)2005 - Electronic News Publishing -

Porsche Automobil Holding SE (Porsche) (Xetra: POR3) (FWB: POR3), a Germany-based automaker, has incurred EUR14bn in debt, according to German magazines Spiegel and Focus.

It was earlier expected that the company had a debt of EUR10bn.

According to Spiege, the earlier figures did not include bonds. The magazine also stated that Deutsche Bank AG (DB) chairman Joseph Ackermann warned Porsche in a confidential talk the intensity of the financial situation of the company.

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((Distributed via M2 Communications -

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Publication:Auto Business News (ABN)
Date:Jul 27, 2009
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