The merger with Volkswagen (VLKAY.PK -3.5%) will zero out Porsche's (POAHF.PK) debt of...

|About: Porsche Automobile Holding SE (POAHF)|By:, SA News Editor

The merger with Volkswagen (VLKAY.PK -3.5%) will zero out Porsche's (POAHF.PK) debt of €11.4B ($17.2B) - liabilities that piled up in the six months after Porsche's own failed bid for control of VW. "By the time the merger is done, the level of more or less zero will certainly be reached,” says Martin Winterkorn, CEO for both companies.