Franking Machines

The Chief Executive of Porsche has resigned and the failed takeover of Volkswagen is to blame. Earlier this year Porsche had built up a 51% stake in Volkswagen but managed to acquire a debt of 9 billion Euros in doing so. Porsche then had to seek financial help from the German government but had its request turned down. In an unexpected twist it is now highly probable that Porsche will be taken over by Volkswagen. The Chief Executive of Porsche Wendell Wiedeking will leave Porsche with a 50 million Euro payoff.