Opel has the liquidity to operate until next year

Article by Christian Andrei, on August 27, 2010

A senior member of Chancellor Angela Merkel's Christian Democrats, shared his opinion on the conflict surrounding the bidding process for Opel/Vauxhall, which General Motors is intending to sell off.

In an interview with the Rheinische Post daily newspaper, Guenther Oettinger, CDU premier of the southern German state of Baden-Wuerttemberg, said that whichever company would be named as the owner of Opel/Vauxhall would be of "secondary importance."

He also said that Magna can do the job, but he doesn't rule out other companies being able to do it as well. Daimler and Porsche are based in his state but there are no Opel plants.

For the moment, it's still a toss-up between Magna International and RHJ International. The German government has obviously favored Magna and has even offered to provide billions of euros in aid if GM chooses Magna.

However, GM has declined to choose a winning bidder last weekend as scheduled. Sources are saying that GM could be planning to hold on to Opel.

Berlin and the federal states that host Opel plants have already provided a 1.5 billion euro loan, which German Economy Minister Karl-Theodor zu Guttenberg said should last until January. [via autonews]

Topics: opel, germany

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Volkswagen Group’s dieselgate saga continues, but it appears the German company would be able to get out of trouble, but it would not be unscathed. This development comes as Volkswagen...
by - January 22, 2017
When a car has been in the market for nearly six years, it loses some of its luster and its customers tend to go for the all-new model with a...
by - January 22, 2017
Remember Zenos Cars, a British carmaker that specializes in designing and building lightweight and high-performance sports cars? If you are wondering how the company is faring with their E10 lightweight...
by - January 21, 2017
Mercedes-Benz has revealed that in 2017, its series 124 coupé will be celebrating its 30th anniversary. While this itself is a significant event, it will also mean that this model...
by - January 21, 2017
BMW’s 550i xDrive has long been considered as one of the most successful business sedans in the world. For the brand, this may not be enough as it has officially...
by - January 20, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries