BERLIN (AFP) -- Germany will hold talks in the coming days with
Canadian auto parts maker Magna International Inc. (MGA) on taking
a stake in General Motors' (GM) European unit Opel, Der Spiegel
magazine said Saturday.
"Magna is a potentially interesting partner," it quoted Economy
Minister Karl-Theodor Zu Guttenberg as saying, in a report to
appear in its next issue on Monday.
"We are of course going to examine seriously" the possibility of
Magna acquiring a stake in Opel, he said, adding that he would be
meeting Magna representatives "at the beginning of next week."
On Friday, the head of the regional government in Hesse, where
Opel is headquartered, cited Magna as well as Italian auto maker
Fiat (FIATY) as a possible investor in Opel.
Founded in 1954 by Frank Stronach, an immigrant to Canada from
Austria, Magna calls itself "the most diversive automotive supplier
in the world," supplying virtually every major auto maker -
including Opel.
General Motors, fighting for its own survival, is looking for an
investor in Opel with a view to eventually spinning it off. In a
statement on Friday, Fiat affirmed it has made no offer so far for
Opel.
The Suddeutsche Zeitung newspaper, citing Opel officials whom it
didn't name, said Opel - while not rejecting a tie-up with Fiat out
of hand - views Magna as "a better solution."