The head of Russia's OAO Sberbank (SBER.RS) said Thursday he sees no serious competition to a bid led by Canada's Magna International (MG.A.T) for troubled car maker Opel, the Interfax news agency reported.

China's Beijing Automotive Industry Holding Co. plans to present a detailed bid for General Motors Corp.'s (GMGMQ) Opel unit in Europe within the next few days, a person familiar with the matter told Dow Jones Newswires Wednesday.

Sberbank is providing financial backing to Magna's offer, which was agreed with GM in May. Russian auto maker OAO GAZ (GAZA.RS) could also participate in the deal.

"The choice has been made," Sberbank's Chief Executive German Gref said. "We must now finalize the structure of the deal," he added.

Agency Web site: www.interfax.ru