German Econ Min: German Government Wants Clear Concept From GM
17 Februar 2009 - 4:22PM
Dow Jones News
The German government has called on General Motors Corp. (GM) to
offer a clear concept for the future of its business in Europe,
Economics Minister Karl-Theodor zu Guttenberg said Tuesday.
"It is now important that the GM parent company provides a clear
concept," for its subsidiaries and General Motors Europe, zu
Guttenberg said.
Adam Opel is the German unit of GM Europe.
"This is the basis for us to examine whether and how we can
help, and I won't oppose any such talks," zu Guttenberg said,
adding that he will conduct talks with the U.S. carmaker in the
coming days and weeks.
GM is scheduled to submit a plan to the Treasury Department
Tuesday to describe how the company will restructure to ensure its
long-term viability.
Following a meeting with GM Europe and Opel last November,
German Chancellor Angela Merkel said the government would conduct a
"constructive" examination of a possible state liquidity guarantee
for Opel, and that this would depend on any finance being put to
use in Germany.
-By Andrea Thomas, Dow Jones Newswires; +49 (0)30 2888 4126;
andrea.thomas@dowjones.com