General Motors has said it is still in talks with potential buyers for its German Opel unit.
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General Motors' Opel isn't in immediate danger of running out of cash despite an apparent stalemate over German government support for its possible sale.
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Citroën will unveil its new DS3 at the Frankfurt show next month. VW's new Polo 3-door makes its public debut and Opel's redesigned Astra has new engines.
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Automakers are concerned about the possible Magna purchase of Opel from General Motors and are contacting US partsmakers about diverting some business from the Canadian supplier if it succeeds.
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Talks over the sale of Opel and Vauxhall will resume on Friday between General Motors' negotiator John Smith and German state and federal ministers.
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Talks over the sale of Opel and Vauxhall will resume on Friday between General Motors' negotiator John Smith and German state and federal ministers.
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The latest straws in the Opel sale wind risk making an already politically complex situation even more so. The suggestion is that GM is now wondering if there's a way to hang on to Opel after all.
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General Motors could clarify within 24 hours if it will keep rather than sell Opel, a German labour representative said on Tuesday morning.
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General Motors' advisers are recommending its board consider spurning a German-backed sale of the Opel unit to retain a bigger presence in Europe and Russia, a person familiar with the discussions was quoted as saying on Monday.
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GM's failure to decide on a buyer for its European operations appears to be stoking anger in Germany.
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GM's board of directors is scheduled to meet today (Friday, Aug 21) to discuss the sale of its Opel/Vauxhall operations.
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A report in Financial Times Deutschland suggests that Opel/Vauxhall employees in Europe are sharply divided on their bid preferences with a geographical split evident in terms of German and non-German employees.
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The German government is prepared to provide EUR4.5bn (US$6.35bn) in state aid for Opel if General Motors chooses Magna International rather than finance group RHJ to buy Opel, Deputy Economy Minister Jochen Homann said.
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A decision in principle by General Motors on who it will sell Opel to will be made by the end of the week, according to a German government minister.
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A threat by Volkswagen to remove business from supplier Magna International if it is successful in its bid for Opel was branded as 'tantamount to blackmail' by Opel labour leader Klaus Franz.
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The British labour union Unite has reportedly thrown its weight behind the private equity firm RHJ yesterday in its bid to take over Opel/Vauxhall.
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After reports circulated widely yesterday that GM and Magna were at or very close to agreement on the sale of Opel and that Magna had dealt with GM's Magna bid concerns, GM has today stressed that it has not reached agreement with Magna.
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Magna International Inc. says it has reached an agreement in principle to buy a controlling stake in General Motors Co.'s Opel/Vauxhall unit, but GM is not rushing into a decision.
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German Chancellor Angela Merkel said on Thursday a German task force would decide this weekend on bids for Opel, but could not rule out a difference of opinion with the carmaker's parent company General Motors Co.
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German Chancellor Angela Merkel said on Thursday a German task force would decide this weekend on bids for Opel, but could not rule out a difference of opinion with the carmaker's parent company General Motors Co.
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