The consortium aiming to take over Adam Opel GmbH is still intent on getting the deal through this month, although a previous memorandum of understanding is being renegotiated.

Magna International Inc. (MGA) is actively pursuing a stake in General Motors Corp.'s (GM) German unit, but the outcome of the deal depends on GM, German Economics Minister Karl-Theodor zu Guttenberg said Thursday.

The memorandum of understanding signed at the end of May is being negotiated, zu Guttenberg said on the sidelines of an event. "Those are the facts we have," he added.

Magna has said it aims to wrap up the negotiations by mid-July. It has the backing of Opel's powerful union as well as German politicians.

"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.

The GM-Magna memorandum isn't legally binding, and there are other buyers on the sidelines should the agreement sour. China's Beijing Automotive Industry Holding Co. plans to present a bid for Opel in the next few days, a person familiar with the matter told Dow Jones late Wednesday.

GM has also had some discussions with RHJ International SA (RHJI.BT), a private equity firm that was among the original bidders for Opel in May. While speculation has circulated that RHJ's chances may be better than previously thought, on Wednesday the company reported a EUR1 billion net loss for the year ended March 31 that cast doubt on its financial clout.

Despite the tentative nature of the GM-Magna agreement, the head of Russia's OAO Sberbank (SBER.RS), which is financially backing Magna's offer, said Thursday he sees no serious competition to the bid, the Interfax news agency reported.

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

Russian auto maker OAO GAZ (GAZA.RS) is also a partner to Magna.

Earlier this week, Magna's co-chief executive, Siegfried Wolf, said he expected to sign a final deal with GM for Opel by July 15.

The agreement with Magna is supported by EUR1.5 billion in bridge financing from the German government to keep Opel afloat.

-By Sarah Sloat and Beate Preuschoff, Dow Jones Newswires, +49 (0)69 - 29725500, sarah.sloat@dowjones.com

(Christoph Rauwald contributed to this report)