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Porsche debt a massive 14 billion euros

Porsche Automobil Holding SE, the administrative company of the Porsche business, amassed 14 billion euros (US$19.75 billion) in debt in its failed attempt to take full control of Volkswagen, Germany's Bild newspaper has reported, citing an informed source.
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Sources told Reuters Newsagency recently that Porsche's debt was "clearly" higher than the10 billion euros that had so far been revealed by the German sports car maker.

As a result of the immense debt, Der Spiegel magazine reported on Saturday that Volkswagen would pay 8 billion euros to Porsche SE to buy its fully owned sports car business, Porsche AG.

The two companies are set to decide on the issue tomorrow in Germany.