German Economy Minister Karl-Theodor zu Guttenberg said Tuesday that the federal government sees no frontrunner yet for a deal with General Motors Corp.'s (GM) German Adam Opel GmbH unit, adding all three bidders are still in the race.

Speaking to reporters in Berlin, Guttenberg confirmed the German government plans to make a first decision on the three bids Wednesday.

Auto supplier Magna International Inc. (MGA) and its Russian partners appear to be frontrunner for a deal with Opel, according to several German politicians and Opel's labor unions. Magna has teamed up with Russia's OAO GAZ Group (GAZA.RS) and Sberbank (SBER.RS) in its bid.

Italian automaker Fiat SpA (F.MI) and Ripplewood Holdings LLC have launched rival offers.

Guttenberg said the bidders are aware their offers need to be improved in certain areas. "There is no company, that filed a bid to us, which wouldn't raise (some questions)," Guttenberg said.

Referring to the talks with Fiat earlier Tuesday, Guttenberg said his impression was "a sincere one, not a bad one." He added, however, that Fiat would have to improve its offer as well.

Guttenberg reiterated previous statements that all options must be kept open for Opel, including an orderly insolvency.

Company Web site: www.opel.com

-By Beate Preuschoff, Dow Jones Newswires; +49 30 2888 4122; beate.preuschoff@dowjones.com