Opel has the liquidity to operate until next year
By Andrew C., 27 Aug, 2010. 0 Comments
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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]
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