German Econ Min Says Government Sees No Frontrunner For Opel Yet
26 Mai 2009 - 3:47PM
Dow Jones News
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 that
all three bidders are still in the race.
Speaking to reporters in Berlin, Guttenberg confirmed that 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.
Company Web site: www.opel.com
-By Beate Preuschoff, Dow Jones Newswires; +49 69 29 725 100;
beate.preuschoff@dowjones.com