German govt rejects Porsche's aid request-source

Newswire

BERLIN, May 21 (Reuters) - The German government has rejected Porsche's request for state aid, a source close to the government told Reuters on Thursday.

The German car maker's application had not been sufficient for a decision on aid, the source said.

German newspaper Handelsblatt had earlier reported that Porsche had asked for a "substantial" three-digit million euro sum.

Porsche is struggling with a 9 billion euro ($12.4 billion) net debt load built up in its ...

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