Toronto, Aug 25 - General Motors's new board is reportedly reluctant to sell its Opel unit to Canada's auto-parts giant Magna International.

Magna, which is the world's third largest part maker, and the Savings Bank of the Russian Federation (called Sberbank), have jointly submitted a $775-mmilon bid to acquire a 55 percent stake in Opel. Brussels-based financial investor RHJ International is the rival bidder.

German-based Opel is on the block as GM, which has received $50 billion bail-out from US and Canadian governments, undertakes massive restructuring plans.

Though the US government currently has 60 percent stake in GM, the Obama administration has decided not influence decision-making by the auto giant to sell Opel.

At their meeting Friday, GM's new board of directors deferred accepting the winning bid by the Canadian auto company and the Russian bank.

GM chief negotiator John Smith reportedly had reservations about Magna's offer because it will give its Russian partner access to GM intellectual property and control over some of its Chevrolet operations in Russia.

But Bloomberg reported that the entire new board, heavy with US administration appointees, is questioning the previous board's decision to give up control of Opel.