What's happened to Porsche? One minute it's buying VW, the next it's facing huge debts. And now it's likely to be gobbled up

摘要

The much-publicised bid by Porsche for control of Volkswagen has been billed as David overthrowing Goliath. But in reality it has been a fiercely drawn-out battle for power and notoriety between one of Europe's smallest car makers and one of its largest - and it has now turned into a fight for financial survival. Porsche is fending off creditors who want their money back. In scenes reminiscent of the firm's darkest days - the turbulent period in 1993, when it was within two days of closing its Zuffenhausen production line -Porsche once again finds itself with increasing debt. And it owes the money on loans, borrowed to finance its shareholding in VW.