In today's News Brake: Opel rolls out the redesigned Astra, which might hold something for us in the United States; Ford cashes in with a stock sale; and we get a look at what might be a redesigned Ford Ranger truck ... But Wait, There's More!
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Opel, General Motors' financially embattled European subsidiary, has ripped the covers from its sixth-generation Astra ahead of the car's planned debut at the Frankfurt motor show in September.
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A potential Magna International offer for General Motors' European assets is seen as viable at GM in the US, people 'familiar with the situation' have said.
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Magna International and Russian state lender OAO Sberbank are combining to bid for a majority stake in Opel, German newspaper Handelsblatt said on Wednesday, citing unnamed sources.
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Fiat union officials, who fear job losses if the company pushes ahead with plans to buy GM Europe's Opel and Vauxhall operations, are meeting with their German counterparts to discuss the situation.
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Fiat would remain firmly in Italy, its chairman has said, apparently trying to allay union gears over a possible merger with Opel.
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GAZ has confirmed its interest in participating in a consortium involving Magna in a possible bid for GM's Opel operations.
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Fiat's plan to combine Chrysler with Opel is unhealthy, according to Volkswagen chairman Ferdinand Piech.
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European Union officials have called for "coordinated action and full respect" of EU state aid and internal market rules as General Motors' European units are restructured.
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Russian carmaker GAZ said on Tuesday it would be interested in creating a joint venture with Magna International and Opel. Canadian partsmaker Magna is vying against Fiat S.p.A. to buy General Motors' European business, centered around Opel.
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Fiat has still not presented a convincing strategy to merge Opel with Fiat Auto, German regional governments have said.
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Canada's Magna has asked Russian automaker GAZ to bid for a share of Opel, Russia's prime minister Vladimir Putin has said.
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PSA Peugeot Citroen does not fear a possible alliance between Fiat and Opel, a Peugeot director has said.
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General Motors will choose a buyer for its European business by the end of this month, CEO Fritz Henderson said. and#8220;We are speaking with multiple bidders.
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General Motors will choose a buyer for its European business by the end of this month, CEO Fritz Henderson said. and#8220;We are speaking with multiple bidders.
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The German government is examining competing plans to invest in Opel and hopes to decide on financing guarantees by the end of the month, a leading Social Democrat (SPD) politician said on Sunday.
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Trade union workers at Fiat SpA's Termini Imerese plant in Sicily went on a brief strike on Monday to pressure the carmaker to disclose its plans for them in the event of a merger with Opel.
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Fiat Group CEO Sergio Marchionne denied that Japan's Suzuki Motor Co. could join his planned alliance between Fiat Group Automobiles and General Motors' European and Latin American operations.
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Leaders of Italy's and Germany' s major engineering unions will meet in Frankfurt on Wednesday to discuss the job implications of the proposed Fiat-Chrysler-Opel merger and the creation of a new global giant carmaker, Reuters reported.
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