Email to editor
Email to Support
Thuglak Online Store
Cho's Collections


Kathadi Ramamurthi's


Tamil Telefilms
6 VCD/DVD Collections


Bharatanatyam
5 - VCD/DVD Collections


Yoga
8 - VCD/DVD Collections


Carnatic Music - Vocal
25 - VCD/DVD Collections


Devotional
21 - VCD/DVD Collections


Carnatic Music - Instrument
10 - VCD/DVD Collections


Mouli's
6 - VCD/DVD Collections


Crazy's
22 - VCD/DVD Collections


S.Ve.Shekher's
15 - VCD/DVD Collections


Kuchupudi
6 VCD/DVD Collections


Y.Gee.Mahendra's
8 - VCD/DVD Collections


Dummies Drama's
6 - VCD/DVD Collections

GM executives, board, split over Opel fate: Report

Category :International Sub Category :Americas
2009-08-22 00:00:00
   Views : 284

Washington/Berlin, Aug 22 (DPA) General Motors' newly-appointed board has failed to support a plan backed by its executives that would sell the US auto giant's European subsidiary, Opel, to Canadian auto supplier Magna International Inc, according to reports Friday.

The meeting had adjourned with no decision, according to a GM statement. A GM spokesman confirmed to dpa that the board was not able to make a decision.

Board chair Edward Whitacre reportedly argued that a separate offer from Brussels-based RHJ International SA should be taken more seriously, sources told the Wall Street Journal.

Magna's bid for Opel is backed by the German government, which has offered financial backing to the tune of $6.4 billion. Germany Friday set out tough financial requirements for GM, according to a letter available with DPA, asking for help with dealing with Opel's possible deficit of $1.7 billion.

The GM board has not gotten a financing offer from the German government for the RHJ offer.




Author :Indo Asian News Service



Bookmark and Share

Related News

  • First Test: India vs. Sri Lanka, lunch, Day 1 scoreboard
  • First Test: India vs. Sri Lanka, lunch, Day 1 scoreboard
  • Global swine flu toll rises to over 3,900: WHO
  • Champions Trophy: England start with impressive win over Sri Lanka
  • Scoreboard: England vs. Sri Lanka, Group B, Champions Trophy
  • Rival agency in talks to take over AP's German service
  • Second swine flu case reported in Himachal Pradesh
  • Chandigarh government offices to have jail-made furniture