The UK government is prepared to discuss with Magna International support for Opel's Vauxhall unit by providing funding for green car technology, business secretary Peter Mandelson told reporters in Tokyo on Monday.
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General Motors is on schedule to sign a contract next week selling a majority stake in Opel to the Magna International-led consortium with Sberbank, a media report said.
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The Spanish government wants European Union regulators to intervene in the proposed sale by General Motors of a majority stake in its Opel unit to a Magna International-led consortium.
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Here's a good example of a successful model re-introduction. Chevrolet brought the Malibu back from the grave in 1997. Shortly after, it started gaining popularity with customers and press alike. Plenty of awards followed. The 'fifth generation' Malibu (or first-generation modern Malibu) was sold until 2003-- when the Opel-based 2004 Malibu hit the road.
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Six hundred workers at the Opel plant at Figueruelas near Zaragoza in Spain will be laid off temporarily in November because of a fall in demand, General Motors Europe said on Friday.
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The German government has defended controversial state aid to car maker Opel after a series of complaints from other EU administrations, saying Germany would bear the brunt of European job losses.
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Magna is planning talks with customer Volkswagen to dispel its doubts on the Opel takeover, co-chairman Don Walker has said. A meeting is next.
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UK government business secretary [minister] Peter Mandelson has said he does not believe Magna International's plan for Opel is "commercially the most viable".
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Opel's workers' representatives have questioned the Magna International consortium's plans to restructure the automaker, despite supporting the deal.
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Magna International has not lost any contracts because of its planned investment in Opel, adding it was establishing 'firewalls' to ease concerns from other vehicle manufacturers.
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Magna International co-chief executive officer Don Walker has reassured Japanese clients the planned investment in Adam Opel would not lead to a transfer of leading-edge technology.
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A special group within GM Europe will consider the future of the Opel plant in Antwerp, Belgium, and detail its restructuring plan after talks are concluded.
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The German government does not need separate approval from the European Commission to grant state aid to Adam Opel because this would be part of a temporary framework agreement to support companies during the economic crisis, a government document seen by Dow Jones Newswires said. Separately, The Times reported earlier today that Magna would axe 1,400 Vauxhall jobs at the two plants here and the Daily Telegraph, citing "sources", said 1,830.
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The German government does not need separate approval from the European Commission to grant state aid to Adam Opel because this would be part of a temporary framework agreement to support companies during the economic crisis, a government document seen by Dow Jones Newswires said. Separately, a British newspaper reported that Magna will axe 1,400 Vauxhall jobs at the two plants here.
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The German government does not need separate approval from the European Commission to grant state aid to Adam Opel because this would be part of a temporary framework agreement to support companies during the economic crisis, a government document seen by Dow Jones Newswires said.
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Thousands of people took to the streets of Zaragoza, Spain, on Saturday to protest Opel plans to sack 1,700 workers at its Figuerelas factory on the outskirts of the city, a local union official told just-auto on Monday.
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Sberbank's participation in the acquisition of Opel would be meaningless unless it leads to exports of Opel technologies to Russia, CEO German Gref reiterated at the weekend.
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German chancellor Angela Merkel has defended her government's decision to aid Opel, sparking accusations of protectionism.
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AvtoVAZ, 25% controlled by Renault, could produce parts for Opel and build a budget car for the brand as part of the Magna-led consortium running Opel, Sberbank chief executive German Gref said.
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