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GM executives, board, split over Opel fate: Report

Category :International Sub Category :Americas
2009-08-22 00:00:00
   Views : 286

GM was to ask Germany for more information about possible funding for RHJ, Bloomberg financial news service reported.

No date has been set for another GM board meeting or a deadline for a GM decision.

The Magna-led bid also includes the Russian state bank Sberbank dand Russian carmaker GAZ.

GM is hiving off a majority stake in its European operations after the US government bailed out the largest US carmaker. The US government, along with the Canadian government, is the majority stakeholder. The United Auto Workers Union also owns a large stake in the company that emerged from bankruptcy court in July.

Opel has operations in four German states. In the letter Friday, the governments also required that dividends only be paid to shareholders after the loans from German governments are repaid.




Author :Indo Asian News Service



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