Magna to buy into Opel – report
Canadian car parts group Magna International has reached a preliminary deal with General Motors to invest in its beleaguered European division Opel/Vauxhall, sources close to the negotiations has told Reuters newsagency today.
The sources said Magna and GM still had to work out details before an expected meeting later today with German Chancellor Angela Merkel.
Opel future hangs in the balance
The fate of Opel/Vauxhall, the beleaguered European subsidiary of General Motors, hangs in the balance after 12 hours of talks broke down with GM revealing the company needed an extra 300 million Euros (US$415 million) to survive.
By David Twomey in Berlin
At the same time the talks did narrow Opel’s suitors down to two companies, Italian [...]
