GAZ shows interest in Opel
By Andrew C., 27 Aug, 2010. 0 Comments
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Vladimir Putin, the Russian Prime Minister, at the request of Magna, has said that the Russian conglomerate GAZ is contemplating a 30 percent stake in Opel. It was made crystal clear by GAZ though that it does not wish to run or own the company, but what it really is aiming at, it seems, is to have cars manufactured at its facilities located in Nizhny Novgorod. With such a proposal, it is reported that Magna would acquire 20 percent of Opel. Currently the German government is comparing the offers from Fiat and Magna/GAZ. General Motors is known to have a preference of a single bidder, more likely Fiat, but the German government it seems prefers Magna due to a pledge that production will remain in German territories. But if the real intention of GAZ is to boost Russian production capabilities, if it will acquire a larger stake in Opel than Magna, then this is a conflict that will certainly be requiring resolution, and that even before the other 50 percent stake holders are considered.
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