UPDATE: EU Wants State Aid Rules Respected In GM Restructure
12 Mai 2009 - 12:17PM
Dow Jones News
Three European Commissioners Tuesday called on governments to
fully respect the rules on state aid, as they prepare for the
restructuring of General Motors Corp.'s (GM) European
activities.
The commissioners - Guenter Verheugen for enterprise and
industry, Neelie Kroes for competition, and Vladimir Spidla for
employment and social affairs - called for a "coordinated action
and full respect of E.U. state aid and internal market rules in the
GM Europe restructuring," in a statement.
GM's European operations include German-based Adam Opel, smaller
U.K. sister Vauxhall, as well as Sweden's Saab, with plants in
other E.U. countries. Governments are concerned any restructuring
would lead to plant closures and job losses.
Italian carmaker Fiat SpA (F.MI) is interested in buying GM's
operations, and that has spurred concerns plants might be closed
after a deal, as the two companies' productions overlap in many
market segments.
-By Alessandro Torello, Dow Jones Newswires; +32 2 741 14 88;
alessandro.torello@dowjones.com