MOSCOW (AFP)--Russian state lender Sberbank said Friday that a
deal to buy Adam Opel GmbH with Canada's Magna International from
bankrupt U.S. giant General Motors Corp (GMGMQ) had to meet
Russia's conditions or it could fall through.
"The new conditions have to satisfy the bank and the Russian
Federation. If the conditions suit us then we can close this deal,"
Sberbank chief German Gref was quoted by RIA Novosti news agency as
saying at a press conference.
Asked about the possibility of the negotiations falling through,
the deputy head of the bank, Denis Bugrov, said: "I am not
excluding it."
If there is an agreement, Gref said the deal could be signed in
September.
The German government last month announced a rescue plan for the
German auto unit Opel under which 55% of the company would go to
Canadian auto parts manufacturer Magna International and Sberbank
while 35% would stay with GM.
Negotiations have since stalled as GM is trying to raise the
price of the deal.