Chapter 718 The Last Straw

   "What did they say?"

  Wolfgang Porsche locked himself in the office, and drew thick curtains even in the daytime. The room was pitch black, and he only relied on lights for illumination. He claimed to be quietly thinking for a while, but Wedekin believed that the helm of the Porsche family could not bear such a heavy pressure, and turned negative and wanted to escape from it all.

  During this period, Weidegging became particularly busy. On the one hand, he had to bear the burden left by Wolfgang Porsche, and on the other hand, he tried his best to seek financial assistance from the market. In just a few days, his hair turned gray.

  The reason for today's situation is largely due to Wei Dejin's "bad idea", that is, to reject the "olive branch" offered by Zhong Shi. Wei Dejin himself is well aware of this, but now he can only use more hard work to make up for his previous misjudgment of the situation.

  But once some things are missed, it would be impossible to recover them.

   On this day, Wei Dejin contacted the KfW Bank, a state-owned bank owned by the German Federal Government. Because of the endorsement of national credit, Wei Dejin believed that the possibility of borrowing from it was far greater than other commercial banks.

  The current situation that the Porsche Group is facing is that it is burdened with uncertain debts of up to 13 billion euros, and there is still a funding gap of nearly 2 billion euros in its own operations. During the economic downturn, it is impossible for any commercial bank to lend them such a large amount of funds. This is not only because of their poor operating conditions, but also because of the long-term consideration of the plummeting stock price of the Volkswagen Group.

The financial crisis affected not only the Porsche Group, but also the operation of the Volkswagen Group. Under such circumstances, the already inflated stock price of the Volkswagen Group was even lowered by the bankers, that is, they now intervene in the debts of the Porsche Group. Then it is very likely that the debt of 13 billion euros will be involved, which is something that no banker is willing to face.

  Even state-owned banks cannot get rid of this concern, so Wei Dejin's visit failed.

   "They rejected our request!"

Wei Dejin pulled a chair and sat down silently. After pondering for a long time, he said bitterly, "After only fifteen minutes of talking, they clearly rejected our loan request, even though we paid a 30% discount. They were unmoved by the proportional market value mortgage. Although they were polite throughout the whole process, I didn't see any possibility of getting a loan."

   "..."

  The lights were a bit dim, and Weidekin could only hear Wolfgang Porsche sighing, but couldn't see the real expression. After a long while, there was a sudden pricking sound, and a match was ignited out of thin air. Wolfgang Porsche was smoking a huge cigar next to the flames.

  The flames flickered and danced, reflecting on his haggard face. Weidekin suddenly noticed that Wolfgang Porsche had many wrinkles after he hadn't seen him for a few days.

  "If the Bank of Renaissance is out of business, we still have another option."

Wei Dejin racked his brains and thought about it for a long time, and finally said slowly, "But it should be our last choice. Because I discussed with my financial advisor a few days ago, they said that issuing bonds in this situation is not at all possible. Possibly, it would be a miracle to get half of the nominal funds.”

   "Do we have a choice?"

Half lying on the boss chair, Wolfgang Porsche exhaled a long wisp of smoke, and laughed at himself, "Unexpectedly, we still have a choice until now. Wendelin, tell me, what do we still have?" What choice?"

   "Corporate Rescue Fund!"

  Although Wolfgang Porsche's attitude was very frivolous, Wedekin didn't care too much, and said solemnly, "Yes, it's the federal government's corporate rescue fund!"

   Speaking of the corporate rescue fund, it is a rescue fund with a scale of around 100 billion euros just announced on March 4. Inspired by the rescue of the three major auto companies by the United States and the fact that many German companies are troubled by deflation, the German government announced the establishment of such a fund at this time, with the purpose of opening up more financing channels for many companies.

  However, when the fund was established, it suffered a lot of criticism. Critics believe that if the German government blatantly interferes with the inevitable structural adjustment in the industry, it will have serious adverse consequences and stimulate those poorly managed companies to get more help from the state, resulting in unfair competition.

  Among the many opponents, the voices of Daimler-Benz and BMW Group are the loudest, because this directly affects their interests.

   So far, many auto companies, including Opel, have been included in the first batch of rescue lists, and the Porsche Group has not yet applied.

   “As long as we apply, the rest depends on approval!”

Wei Dejin counted with his fingers, "The liquidity guarantee of 75 billion euros and the cash loan of 25 billion euros, as long as we can get a part of it, then the dilemma we are facing will be solved by itself. The relevant application conditions I have also seen that a large part of us are in line, only the one that is currently involved in the acquisition case, we may face a little difficulty, but I personally think that the problem will not be very big.”

   "Can it really save us?"

  Wolfgang Porsche's complexion changed little by little. At the end, he straightened up and stared at Wedekin with burning eyes, "If we can successfully apply?"

   "It's still the same sentence, if we can successfully apply, all problems will be solved!"

  Weidekin did not avoid Wolfgang Porsche's scorching gaze, and bravely greeted him, "As long as we can continue the acquisition plan, the funds within the Volkswagen Group will be the key to solving all our problems."

   "Where is the bell stone?"

   Obviously, Wolfgang Porsche was persuaded, but so far, he was still worried that someone would be a hindrance. This person was obviously the Zhongshi they had offended before.

  About Zhongshi sabotaging their acquisition plan, after repeated verifications, they are very sure. But even if they knew the identity of the other party, they could do nothing about it, because the other party was using upright tricks. If Porsche faced it, they could only fight for funds with the other party.

   But the funding problem is the biggest problem facing the Porsche Group at present.

  Not to mention fighting for funds, even the news that Zhong Shi is against them in the capital market, the Porsche Group must keep it highly confidential. Because once the news is leaked, I am afraid that the market will immediately set off another hunting operation against the Porsche Group. After all, compared with the previous operation, the opponent they are facing this time is dozens of times stronger.

   "Strive for a settlement."

Wei Dejin was also helpless, and shook his head helplessly after a while, "For such a person, all our tricks are impossible to work, so we can only seek his forgiveness in the end, and the best way is to accept all of them at that price." equity."

  In fact, deep down in his heart, Wei Dejin disapproved of Zhong Shi's actions. But he knew very well that his boss was very dissatisfied with his previous practice of giving up Zhongshi, so in this case, he could only follow Wolfgang Porsche's wishes, otherwise it would cause more trouble .

"we can only do this!"

Wolfgang Porsche let out a long sigh of relief with a natural expression, and echoed, "At the right time, we will ask him to come over to clear up the misunderstanding between the two parties. If necessary, we can even sell some interests. Offending such a person is really not worth the candle."

   "The gain outweighs the loss!"

  Wei Dejin thought silently in his heart. Even if the Porsche Group successfully acquired the Volkswagen Group, the total assets are still not comparable to Tianyu Fund. In this case, it is best to be a friend, and the worst is a stranger. It is a bit too much to be an opponent.

  At this moment, Wei Dejin also felt a little regretful for his reckless behavior.

  …

  The all-pervasive media quickly dug up the news that the Porsche Group applied for a rescue fund.

   In fact, the Porsche Group did not intend to hide it. After they frequently sought help from the bank consortium, the news that they were in a liquidity crisis has begun to spread like wildfire, but they have never admitted it. Now that the news came out, everyone suddenly realized.

   It can be said that the Porsche Group is in line with the requirements of this auto industry rescue fund, but in the story, there is always a turning point. Their application caused an uproar in Germany, so that they suffered far more criticism than other auto companies.

   The problem lies with Wolfgang Porsche in his triumphant period.

At the beginning, the Porsche Group proudly announced the acquisition of the Volkswagen Group. In order to settle the Lower Saxony State Government, Wolfgang Porsche and his men sued the Lower Saxony State Government to the European Intellectual Property Court, and announced in a high-profile manner that they would Afterwards, the Volkswagen Group will be integrated.

  The so-called integration means layoffs! Some employees of the Volkswagen Group are going to lose their jobs now!

   For a Lower Saxony state government that relies heavily on the Volkswagen Group, this is undoubtedly intolerable. Although the European Intellectual Property Court later ruled that the "Popular Law" violated the principle of free competition and was an invalid law. But the Lower Saxony state government is therefore closely united with the current Volkswagen Group management and firmly resists the takeover from Stuttgart.

  Currently, the Porsche Group is in crisis, and the other party will naturally not let go of this opportunity to beat the dog in the water.

   “Our state legislators will never agree to their bailout application!”

  Governor Ulf of the Lower Saxony state government announced in a high-profile manner, "This also represents the opinion of our government. At the same time, our members of Congress will not agree to the bailout application of the Porsche Group. Yes, they will definitely not agree!"

"This is extremely absurd. The rescue fund was originally used to rescue those hard-working German industries and revitalize the country's economy. It is simply unreasonable to invest this money in a company that has made a fortune from derivatives financial business. This is still the rescue fund Is it the original intention of the establishment? If the application is successful, what will those people who work hard and devote themselves to the industry of this country think?"

   "We will never agree!"

  Ulf will not let go of his mouth, leaving only this sentence!

   Similarly, as direct competitors in the luxury car field, Mercedes-Benz and BMW Group jumped out one after another, accusing Porsche of blatantly wasting taxpayers' funds.

  Different from blaming Opel, Mercedes-Benz and BMW’s strategy of blaming Porsche coincidentally focused on the other party’s acquisition of the Volkswagen Group. The two companies publicized that the Porsche Group's overreaching acquisition was the fundamental reason for their crisis. If the bailout fund chooses to help them, it is indirectly helping them complete the acquisition. This is not only unfair to the Volkswagen Group, but also a major challenge to the entire business rules.

   Directly involved in four car companies, and all of them are leaders in German manufacturing. This topic immediately aroused heated discussions throughout Germany. Every day, newspapers report relevant news at length, experts from all walks of life come to comment on the stage, and members of parliament and senior government officials come out to express their opinions from time to time. The whole thing presents an extremely "prosperous" state of affairs.

  The strong opposition of large groups, the overwhelming public opinion, and the fanning of the officials made the Porsche Group's plan to apply for government relief funds finally have an unexpected result at the end of May.

   They were rejected.

   Thank you Romantic Snail, Spring Comes Blooming Early, Zhe Xingsun, Feixin, Lao Nafahao Takong, Shijue Juejue, Xiaoqi Civilization Miracle, cpower, TinyBee and many other book friends who voted monthly! At the same time, thanks to the book friend 151120171352669 for the monthly pass and reward! The author rearranged his thinking, and the content of kneeling and licking will definitely not appear again in the future! The end of the month is coming soon, although I know that the writing is not good, but I still have the cheek to ask for some monthly tickets. I hope everyone will see that it is not easy for the author. Please vote according to the situation. Anyway, thank you very much, the author will continue to work hard!

  

  

  (end of this chapter)