German Econ Min:To Decide About GM's Opel Plan From Monday
27 Februar 2009 - 6:37PM
Dow Jones News
Germany's Economy Minister Karl-Theodor zu Guttenberg said
Friday the government will decide on the "viability" of General
Motors Corp.'s (GM) restructuring plan for German unit Opel from
Monday.
"It is pleasant that a plan is now on the table," zu Guttenberg
said in a statement. "We will decide about the viability of it from
Monday."
His comments come after German unit Opel plans to increase its
independence from General Motors Corp. while not completely cutting
ties with the GM Europe network, according to GM Europe Chief
Executive Carl-Peter Forster. GM has signaled its willingness to
sell a stake in the company, according to Klaus Franz, the head of
Opel's workers' council.
Forster told reporters at the Opel brand's headquarters in
Ruesselsheim near Frankfurt that Opel needs EUR3.3 billion in
capital. GM posted a total loss of $30.9 billion in 2008.
-By Andrea Thomas, Dow Jones Newswires; +49 (0)30 - 2888 410;
andrea.thomas@dowjones.com