EU warns action will be taken against protectionism in GM's sale of car unit OpelSeptember 12th, 2009 EU warns against protectionism in GM sale of OpelBRUSSELS — The European Union's competition commissioner has warned she will take action if there is any protectionism in the sale of General Motors Co.'s European unit Opel. The Belgian government says it wants the EU Commission to investigate the Opel deal amid concern that Germany allegedly sought to protect its own plants at the cost of others.
Opel decision could come from GM board meeting; Germany eager to know outcomeSeptember 8th, 2009 GM board meeting could decide Opel fateFRANKFURT — General Motors Co.'s board is beginning a two-day meeting that could see it decide the fate of its German unit Opel, with German business leaders and politicians hoping any solution preserves jobs. GM has two primary bids for the Ruesselsheim-based Adam Opel GmbH, with German officials, Opel workers and unions endorsing one from Canadian auto parts maker Magna International Inc.
Opel decision could come from GM board this week; Germany anxious to know outcomeSeptember 8th, 2009 Opel decision may come from GM board meetingFRANKFURT — General Motors Co.'s board begins a two-day meeting in Detroit Tuesday that could see it decide the fate of its European unit Opel, an outcome German business leaders and politicians hope preserves thousands of jobs. Opel spokesman Frank Klaas said Opel did not have any comment on the meeting, while GM Europe officials in Zurich, Switzerland, where the company is based, did not immediately respond to requests for comment.
German government official says GM decision on Opel at least week and a half offAugust 28th, 2009 Germany: GM decision on Opel probably weeks awayFRANKFURT — Any decision on the fate of General Motors Co.'s European unit Adam Opel GmbH is still probably weeks off, a German government spokesman said Friday. A decision on what GM does with the unit, which includes its British sister brand Vauxhall, would take at least a week and a half, as GM's board is due to meet on Sept.
GM board refuses to accept Canada's Magna as Opel winner (Lead, changing dateline)August 22nd, 2009 TORONTO - General Motors Friday postponed its decision on whether Canada's Magna International was the winning bidder for its Opel brand. Magna, which is the world's third largest part maker, and the Savings Bank of the Russian Federation (called Sberbank), had jointly submitted a bid in July to acquire a 55 percent stake in the troubled General Motors' Opel.
GM exec says Opel talks to continue with Magna and RHJI, no mention of China's BAICJuly 23rd, 2009 GM exec: Opel talks continue with Magna, RHJIFRANKFURT — General Motors Co. said Thursday its talks over Opel's rescue will focus on the consortium of Canadian auto parts maker Magna International Inc.
Germany eyes quick agreement with GM on Opel suitor; says it still prefers MagnaJuly 22nd, 2009 Germany seeks quick agreement on OpelBERLIN — The German government said Wednesday that it still favors a consortium led by Canada's Magna to take over GM's Opel unit, and said it hoped for an agreement over the next week with the U.S. auto maker. German officials were meeting with General Motors Co.
German government begins reviewing final bids for Opel; decision not likely soonJuly 22nd, 2009 German gov't begins reviewing Opel offersFRANKFURT — The German government has begun reviewing offers for General Motors Co.'s Opel unit, officials said Wednesday, though its decision and the details of a deal are not expected soon. A government official, speaking on condition of anonymity because he is not permitted to talk to the media about the deals, said that GM and government officials were meeting in Berlin.
Canada's Magna, Russian bank bid for 55 percent stake in OpelJuly 22nd, 2009 TORONTO - Canadian auto-parts giant Magna and the Savings Bank of the Russian Federation (called Sberbank) have jointly submitted a bid to acquire a 55 percent stake in the troubled General Motors' Opel. Belgium's investor RHJ International and China's Beijing Automotive Industries are the other two bidders.
German government begins reviewing final bids for Opel; 4 German states like MagnaJuly 22nd, 2009 Germany reviews Opel offers; states like MagnaFRANKFURT — Germany's government on Wednesday began reviewing the offers for General Motors Co.'s Opel unit, with four states saying they preferred the consortium of Magna and Sberbank. The four German states where Opel has plants have strongly favored the consortium of Canadian auto parts maker Magna International Inc.
GM: 3 bids received for final offers on stake in Germany's Opel, Britain's VauxhallJuly 20th, 2009 GM: 3 bids received for Germany's OpelFRANKFURT — General Motors Corp. said Monday that it received three final offers from three companies for its Opel unit, but a decision was still yet to be taken.
Report: RHJ's Opel plan would involve maximum of some 10,000 job cutsJuly 17th, 2009 Report: RHJ envisions at most 10,000 Opel job cutsBERLIN — Investor RHJ International SA would cut a maximum of some 10,000 jobs at General Motors Corp.'s Opel unit if successful in its bid for the European automaker, the company's chief executive was quoted as saying Friday. Brussels-based RHJ is competing for a majority stake in Germany-based Opel with a consortium of Canadian auto parts maker Magna International Inc.
German government: Opel aid would need renegotiating if Magna doesn't get nodJuly 15th, 2009 Opel aid may need renegotiatingBERLIN — The German government made clear Wednesday that its financial support for a takeover of General Motors Corp.'s Opel unit will have to be renegotiated if GM chooses a suitor other than auto parts maker Magna. Germany-based Opel's future appeared all but settled six weeks ago when, after two late-night negotiating marathons, a preliminary agreement was signed for a consortium of Magna International Inc.
GM Europe still favors Magna for Opel, despite confirming Beijing Automotive Industry bidJuly 8th, 2009 GM Europe still favors Magna for OpelFRANKFURT — A GM Europe spokeswoman said Wednesday negotiations for the sale of General Motors Corp.'s Opel to Canadian autoparts maker Magna International Inc. were "further along," while confirming it had received a bid from China's Beijing Automotive Industry Corp.
German, UK economy ministers say more parties interested in OpelJune 11th, 2009 German, UK officials discuss GM Europe futureBERLIN — German and British economy ministers met Thursday to discuss ways to save General Motors Corp.'s European assets, including examining new bids, in case a deal with Canadian car parts maker Magna International Inc. falls through.
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