German Econ Min: Hoping For Good European Solution For Opel
24 September 2009 - 10:33AM
Dow Jones News
German Economy Minister Karl-Theodor zu Guttenberg Thursday said
he is hoping for a positive solution regarding the
government-backed takeover of Opel through Magna International
(MGA).
"I am hoping for a good European solution," he said. It is
important to preserve EU law, he said, but added he doesn't expect
a veto from the European Commission.
The European Commission Wednesday repeated its warning to
Germany that it will carefully scrutinize any state aid provided to
carmaker General Motor Co.'s European arm, Adam Opel GmbH to ensure
it follows the European Union's strict rules on state aid.
Guttenberg also said he still thinks there is some room for
improvement with regard to the details of the takeover. It is still
possible that Magna improves its offer until the closing.
-By Nico Schmidt, Dow Jones Newswires; +49 69 29725 500;
djnews.frankfurt@dowjones.com