[Pounds]930 Million Volkswagen Bet Loser Refused Lifeline by Rbs ; Banking

Evening Standard - London › December 19, 2008

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Summary

ROYAL Bank of Scotland is refusing to extend a bridging loan of [pounds]375 million to German billionaire Adolf Merckle, further threatening his business empire.

Merckle has been fighting with banks for weeks after losing up to EUR 1 billion ([pounds]930 million) betting that Volkswagen shares would decline.

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[Pounds]930 Million Volkswagen Bet Loser Refused Lifeline by Rbs ; Banking

They rose sharply, leaving his VEM investment arm in serious trouble and jeo...

See the full content of this document