Porsche says suspends sponsorship of Maria Sharapova

FRANKFURT, March 8 (Reuters) - Luxury carmaker Porsche, a division of Volkswagen, said on Tuesday it would suspend tennis player Maria Sharapova as its brand ambassador in light of her admission that she failed a doping test. The Russian tennis star on Monday admitted she had failed a drug test at the Australian Open due to a substance she was taking for health issues. "We regret the current news about Maria Sharapova. Until further details emerge and we are able to analyse the situation, we have decided to suspend planned activities," Porsche said in a statement. (Reporting by Ilona Wissenbach; writing by Edward Taylor; editing by Jason Neely)