General Motors has no interest in buying back Opel
By Andrew C., 27 Aug, 2010. 0 Comments
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General Motors denies having plans to buy back Opel from the winning bidder in the future, according to its lead negotiator.
RHJ International was believed to be GM's favored bidder since its bid had an option to regain majority control when GM becomes financially capable. Magna, on the other hand, does not have such a clause in its bid.
John Smith, GM group vice-president, stated in his online blog that GM does not seek to reacquire Opel. He stressed that the negotiations are complex. However, he also said that GM has difficulties with Magna's bid regarding intellectual property. RHJ' s offer is easier to implement, he concluded. [via autocar]
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