German states with Opel plants will set up a task force to discuss possible aid for the GM unit after Berlin rejected a request for 1.1 billion euros ($1.
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German coalition government divisions over aid to Opel have widened an already fractious relationship and show no signs of mending quickly.
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Representatives of European metalworkers' unions have slammed Germany's decision to deny GM's Opel division EUR1.3bn (US$1.6bn) in loan guarantees as evidence of an "absolutely divided" coalition government.
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Germany's decision to refuse GM division Opel's request for EUR1.3bn (US$1.6bn) in loan guarantees has not exactly come completely out of the blue, but it is nonetheless a hammer blow to the automaker.
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Opel said it expects Germany's Länder (regional states) to comment later today (10 June) on the decision by the country's economic ministry to turn down a request for loan guarantees.
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Opel/Vauxhall CEO Nick Reilly said he doesn't expect to change a restructuring plan for the General Motors Co. unit significantly after the German government rejected a request for state aid toward a 3.
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Germany's economy ministry rejected a request for 1.1 billion euros ($1.5 billion) in loan guarantees for money-losing carmaker Opel.
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Opel/Vauxhall CEO Nick Reilly said he doesn't expect to change a restructuring plan for the General Motors Co. unit significantly after the German government rejected a request for state aid toward a 3.
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Opel/Vauxhall CEO Nick Reilly said he doesn't expect to change a restructuring plan for the General Motors Co. unit significantly after the German government rejected a request for state aid toward a 3.
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Germany's economy ministry rejected a request for 1.1 billion euros ($1.5 billion) in loan guarantees for money-losing carmaker Opel.
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General Motors' Opel division said it would now have to approach regional authorities after today's (9 June) news the German government had refused to grant it EUR1.3bn (US$1.6bn) in loan guarantees.
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A summary of recent just-auto coverage leading up to today's (Wednesday 9 June) decision by the German government not to guarantee a EUR1.3bn loan sought by General Motors European unit Opel.
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Germany has refused to guarantee a EUR1.3bn loan for General Motors European unit Opel.
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Germany has refused to guarantee a EUR1.3bn loan for General Motors European unit Opel whose CEO expressed frustration at the decision.
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Germany rejected GM's request for 1.1 billion euros ($1.3 billion) in aid for its money-losing Opel/Vauxhall unit. Germany's refusal throws into question how GM will fund the 3.
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Germany rejected General Motors Co.'s request for 1.1 billion euros ($1.3 billion) in aid for the loss-making Opel unit, forcing GM to seek other alternatives for the division's reorganization.
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Opel's restructuring deal with its unions could collapse later today (9 June) if Germany's economics steering committee decides to refuse a loan guarantee to the automaker of EUR1.3bn (US$1.6bn).
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Opel's restructuring deal with its unions could collapse this later today (9 June) if Germany's economics steering committee decides to refuse a EUR1.3m (US$1.6bn) loan guarantee.
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Germany may seek alternative sources of funding for GM's Opel unit as the government prepares to officially reject a state-aid request.
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News that Germany's economic steering committee is to meet tomorrow (9 June) to discuss - again - Opel's request for EUR1.3bn (US$1.6bn) in loan guarantees - has not exactly generated great hope the deal will be approved.
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