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. Last Updated: 07/27/2016

Porsche Slams Rescue




STUTTGART, Germany -- Porsche AG has asked the European Commission to block a multimillion-dollar rescue package worked out last year between German rival BMW AG and the British government to save the money-losing Rover operation in Britain, a Porsche spokesman said.


Board chairman Wendelin Wiedeking sent a letter to the commission last summer, after the deal involving 227 million euros ($227 million) in government subsidies was announced, spokesman Manfred Ayasse said Monday.


Including the state aid, BMW plans to invest 1.13 billion euros in Rover's Longbridge plant in Birmingham.