German Econ Min: Magna Still Aiming For Success In Opel Talks
02 Juli 2009 - 2:04PM
Dow Jones News
German Economics Minister Karl-Theodor zu Guttenberg said
Thursday Magna International Inc. (MGA) is actively pursuing its
goal to take a stake in General Motors' (GM) German unit Adam Opel
GmbH, but it depends on General Motors' view.
The memorandum of understanding between General Motors and Magna
is being negotiated, zu Guttenberg said on the sidelines of an
event. "Those are the facts we have," he added.
Zu Guttenberg repeated that Germany is keeping a close eye on
whether any deal would permit German government funding to be
funneled back to the U.S.
Magna has said it aims to wrap up the negotiations by
mid-July.
"That is an ambitious goal, but one shouldn't force the matter,
because there are lots of difficult details to clear up," zu
Guttenberg said.
Further, the German federal government is working closely with
the European Commission on the government's support measures for
Opel, he said.
By Beate Preuschoff, Dow Jones Newswires, +49 (0)30 - 2888 4122,
beate.preuschoff@dowjones.com
(Christoph Rauwald contributed to this report)