Business as usual between Vw and Magna once Opel deal is dead
By Andrew C., 25 Aug, 2010. 0 Comments
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"Business as usual" according to Volkswagen AG, which has dropped its threat to halt awarding contracts to Magna International Inc. now that it won't be the new owner of competitor Opel. Magna International failed in its bid to purchase the Opel division from parent General Motors Co. A VW spokesman told German newspaper Bild that if Magna isn't a competitor then business can proceed as usual. When Magna made a bid for Opel, top-level VW executives such as Chairman Ferdinand Piech were concerned about the parts supplier becoming a rival. Since GM decided not to go through with the plan, carmakers' anxieties have dissipated along with it. [via autonews]
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