Canadian-Austrian auto company Magna International Inc. (MG.B-T) is looking to complete talks on the takeover of German car maker Adam Opel GmbH within the next three weeks, but is increasingly facing resistance, daily Handelsblatt reports ahead of publication Wednesday.

The newspaper is citing unidentified people close to the negotiations, who also reveal that a Chinese competitor of Magna is still in the ring and set to visit Opel's headquarter in Ruesselsheim, Germany, this week.

A memorandum of understanding to pave the way for a possible takeover of Opel by Magna isn't of a binding nature, Fred Irwin, who presides over Opel's trustee board, told Handelsblatt. "All interested parties have access to the same information."

Newspaper Web site: www.handelsblatt.de

-By Frankfurt Bureau, Dow Jones Newswires; +49-69-29725-500; djnews.frankfurt@dowjones.com