Opel's finance chief plans to use just 1.2 billion euros ($1.68 billion) of a 1.5 billion euro bridge loan from the German government, setting aside the remainder as an emergency reserve, a company source said on Monday.
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Opel has hundreds of millions of euros in cash and is ahead of its sales targets to the end of May, Fred Irwin,the head of the German trust overseeing the General Motors unit, said.
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Fiat S.p.A.'s bid for Opel is its best offer, CEO Sergio Marchionne said, as rival Magna International stayed on track to close a deal with the German carmaker. "I don't believe we could improve Fiat's offer.
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Fiat's existing bid for General Motors' Opel is its best offer, CEO Sergio Marchionne said amid conflicting reports about the status of Magna International Inc.'s deal for the German carmaker. "I don't believe we could improve Fiat's offer.
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Fiat's existing bid for General Motors' Opel is its best offer, CEO Sergio Marchionne said amid conflicting reports about the status of Magna International Inc.'s deal for the German carmaker. "I don't believe we could improve Fiat's offer.
Full story...
Fiat's existing bid for General Motors' Opel is its best offer, CEO Sergio Marchionne said amid conflicting reports about the status of Magna International Inc.'s deal for the German carmaker. "I don't believe we could improve Fiat's offer.
Full story...
Fiat's existing bid for General Motors' Opel is its best offer, CEO Sergio Marchionne said amid conflicting reports about the status of Magna International Inc.'s deal for the German carmaker. "I don't believe we could improve Fiat's offer.
Full story...
Fiat S.p.A.'s bid for Opel is its best offer, CEO Sergio Marchionne said, as rival Magna International stayed on track to close a deal with the German carmaker. "I don't believe we could improve Fiat's offer.
Full story...
Fiat S.p.A.'s bid for Opel is its best offer, CEO Sergio Marchionne said, as rival Magna International stayed on track to close a deal with the German carmaker. "I don't believe we could improve Fiat's offer.
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General Motors and Magna International Inc. hope to close the sale of a majority stake in GM's Opel by the middle of September, ahead of Germany's general elections, an Opel supervisory board member told Reuters today.
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The decision by General Motors to admit it is still in serious talks with other bidders for its Opel unit is being seen by analysts as a way to exert pressure on preferred suitor Magna International to complete the deal by the mid-July deadline GM and Magna have set themselves.
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Fiat lost out in the battle for Opel - and that has a knock-on effect for the group, making it harder to make for much-needed cuts in Italian capacity. Sergio Marchionne still wants a third partner - but who will it be? Mark Bursa investigates
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Neither the German government nor bankrupt U.S. carmaker General Motors will admit it, but rival suitors for GM's Opel unit are likely just pawns in a high-stakes game of poker with favored bidder Magna International.
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General Motors is continuing to discuss other offers for European unit Opel despite the letter of intent received from Magna last month which is legally non binding.
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General Motors is negotiating a sale of Opel with financial investor Ripplewood as well as Magna, Financial Times Deutschland said.
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Russia's largest carmaker AvtoVAZ is not considering any partnerships with Opel or Magna International, its boss said on Friday, contradicting remarks from the head of Sberbank.
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Russia's largest carmaker AvtoVAZ is not considering any partnerships with Germany's Opel or Canada's Magna International, its boss said on Friday, contradicting remarks from the head of Sberbank.
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Russia's largest carmaker AvtoVAZ is not considering any partnerships with Germany's Opel or Canada's Magna International, its boss said on Friday, contradicting remarks from the head of Sberbank.
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Opel labor leader Klaus Franz hopes General Motors' planned sale of a majority stake in the German carmaker to a consortium led by Magna International will make it a more attractive partner for rivals.
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General Motors and Magna have targeted 15 July to agree on the sale of a majority stake in Opel to the Canadian parts maker and its Russian partner Sberbank, a media report said.
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