The Obama administration did not get involved with General Motors Co.'s decision to keep and restructure its Opel carmaking operations in Europe, a U.S. Treasury spokeswoman said on Tuesday.
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General Motors Co. has decided to keep Opel, undoing months of painstaking negotiations to sell the European unit to a Russian-backed group led by Canada's Magna International Inc.
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General Motors' board of directors has decided it will keep the Opel business and restructure it, putting an end to plans to sell the European operations to auto supplier Magna International.
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Here are some analysts' reactions to General Motors Co.'s decision to keep Opel, undoing months of negotiations to sell the European unit to a Russian-backed group led by Canada's Magna International.
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Opel Chairman Carl-Peter Forster left open questions about his future role at General Motor Co.'s European unit at an industry conference here. Media reports have suggested that Magna International Inc.
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Opel Chairman Carl-Peter Forster left open questions about his future role at General Motor Co.'s European unit at an industry conference here.
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Opel workers have agreed to contribute 265 million euros ($390 million) in annual savings if General Motors Co. finally sells a majority stake in its European arm to a group led by Canada's Magna International Inc.
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Opel workers have agreed to contribute 265 million euros ($390 million) in annual savings if General Motors Co. finally sells a majority stake in its European arm to a group led by Canada's Magna International Inc.
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Magna favors Herbert Demel, one its top executives and former CEO of Fiat and Audi, to head Opel, Germany's WirtschaftsWoche said.
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Magna favors Herbert Demel, one its top executives and former CEO of Fiat and Audi, to head Opel, Germany's WirtschaftsWoche said.
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Ford of Europe's boss fears the company's business in Russia will be hurt if rival General Motors Co. decides to sell a majority stake in its Opel brand to Magna International Inc. and its partner, state-controlled Russian lender Sberbank.
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Ford of Europe's boss fears the company's business in Russia will be hurt if rival General Motors Co. decides to sell a majority stake in its Opel brand to Magna International Inc. and its partner, state-controlled Russian lender Sberbank.
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Magna favors Herbert Demel, one its top executives and former CEO of Fiat and Audi, to head Opel, Germany's WirtschaftsWoche said.
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Russian tycoon and GAZ owner Oleg Deripaska visited the U.S. twice this year, his spokesman said. During one of those visits he met with GM CEO Fritz Henderson and Magna co-CEO Siegfried Wolf. GAZ is seeking a role as an industrial partner in Opel.
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Russian tycoon and GAZ owner Oleg Deripaska visited the U.S. twice this year, his spokesman said. During one of those visits he met with GM CEO Fritz Henderson and Magna co-CEO Siegfried Wolf. GAZ is seeking a role as an industrial partner in Opel.
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Frank Weber, the German-born engineer in charge of the Chevrolet Volt, is moving back to Germany to take a senior management role at Opel.
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Frank Weber, the German-born engineer in charge of the Chevrolet Volt, is moving back to Germany to take a senior management role at Opel.
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Germany's economy minister has distanced himself from comments by a party colleague who had said the new government in Berlin would review the previously agreed sale of General Motors unit Opel to Canada's Magna.
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Germany's economy minister Rainer Bruederle distanced himself from comments by a party colleague who had said the new government in Berlin would review the previously agreed sale of Opel to Magna.
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Germany's economy minister Rainer Bruederle distanced himself from comments by a party colleague who had said the new government in Berlin would review the previously agreed sale of Opel to Magna.
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