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February 4, 2012
GM willing to give Opel away
Published: 20 Apr 09 10:42 CET
Online: http://www.thelocal.de/money/20090420-18749.html
Troubled US carmaker General Motors is reportedly prepared to give away its German unit Opel to potential investors who would inject at least €500 million into its operations.
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That GM would even consider handing over a majority stake of Opel for nothing shows just how hard the search for a private investor has been, the paper reported.
GM boss Fritz Henderson said on Friday that negotiations with six investors expressing serious interest in Opel would be concluded by early May.
“The issue should be finished in the next two to three weeks,” he said according to the FTD.
Most auto industry experts do not consider Opel and its British counterpart Vauxhall to be big enough to function as independent European carmakers without outside help.
The Local (news@thelocal.de)
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