GM may not sell Opel after all
By Andrew C., 27 Aug, 2010. 0 Comments
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Instead of selling Opel/Vauxhall to either Magna or RHJ International, General Motors is reported to be thinking of raising $4 billion itself. On last Friday's board meeting, GM declined to endorse any of the two bids for Opel/Vauxhall. The past several months, negotiations were heatedly ongoing for both parties but now, it has come to a standstill. An official confirmation is expected from GM very soon, according to a German labor representative who said that the latest revelations were damaging for the company. Armin Schild, IG Metall's leader in the state of Hesse where Opel has its headquarters, sees these developments as a "bad sign for the future of Opel." If you remember... two days ago we told you the same thing!
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