Germany: Theoretical Option For GM To OK Different Opel Bid
05 Juni 2009 - 12:37PM
Dow Jones News
General Motors Corp. (GMGMQ) could "theoretically" sign a deal
with a different bidder for the carmaker's German unit Adam Opel
GmbH, government spokesman Thomas Steg said Friday.
But he said: "Negotiations with Magna are at a very advanced
stage."
GM is in talks with Austrian-Canadian car parts maker Magna
International Inc. (MGA) about an investment in Opel.
The German government said May 30 it selected Magna as a partner
for Opel and agreed on providing EUR1.5 billion in bridge financing
from the federal and state governments, paving the way for a
takeover by Magna and its two Russian partners.
-By Andrea Thomas, Dow Jones Newswires; +49-(0)30-2888-4126;
andrea.thomas@dowjones.com