The consequences of General Motors’ decision to keep Opel/Vauxhall continue to pile up. Russian Prime Minister Vladimir Putin has criticized General Motor’s decision not to sell Opel/Vauxhall to Magna International.

Putin, speaking through his spokesman Dmitry Peskov, said that GM had already approved the deal and Russia would now be studying the legal ramifications of GM’s decision. Putin said that the action taken by the GM board of directors’ causes concerns. That’s because GM has earlier passed its European division into management of a trust, which practically approved the deal, and further decisions were within the competence of this trust. Magna and funding partner Sberbank, a Russian state owned bank, were expected to take a 55% stake in Opel/Vauxhall before GM pulled out, citing improved business conditions. Putin said Russia would be looking for guidance on how to proceed.

[via autocar]

Tags: car news, gm opel sale, Opel, opel news, putin opel sale

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