Opel’s future still unknown

The German government anticipates a visit this week from a General Motors Co. executive as Berlin pushes for a quick decision on the European Opel unit’s future, an official said Monday.

BERLIN — The German government anticipates a visit this week from a General Motors Co. executive as Berlin pushes for a quick decision on the European Opel unit’s future, an official said Monday.

The government hopes the executive will meet with Germany’s “Opel task force” of federal and state officials, government spokesman Ulrich Wilhelm said. He did not identify the manager or give more precise timing.

GM’s board on Friday made no decision between bids for a majority in Opel from a consortium led by Canada’s Magna International Inc. (TSX:MG.A) and Brussels-based investor RHJ International SA. It was unclear when it might decide.

While the decision on Ruesselsheim, Germany-based Opel’s buyer lies principally with GM, the government in Berlin is a player because it is offering financial help to make a deal possible.

Meanwhile, a report Monday said General Motors advisers have recommended GM consider cancelling the sale of the unit and keeping control of it by seeking funding from other European governments.

The Bloomberg news service quoted a person familiar with the discussions as saying the advisers have recommended the board keep control of Opel to maintain its presence in Europe.

Berlin’s strong preference for the Magna-led group, which also includes Russian lender Sberbank, is causing friction with Detroit. GM has indicated that it would prefer RHJ because the Magna-Sberbank bid raises the possibility of patents and other intellectual property falling into competitors’ hands.

Just Posted

Sasktachewan pup, who has extensive burns, makes her way to Red Deer

Donations accepted for Phoenix who has third degree burns on her body

Man dead in ATV collision in central Alberta

The Rocky Mountain House RCMP are investigating a quad rollover collision that… Continue reading

One airlifted to hospital after avalanche on glacier in Yoho National Park

LAKE LOUISE, Alta. — Parks Canada says it has responded to an… Continue reading

Hundreds of Canadian troops deployed to flood zones in Quebec and N.B.

MONTREAL — Quebec Premier Francois Legault will visit flood-damaged regions north of… Continue reading

WATCH: An ‘Eggstemely Fun Easter’ at Bower Place in Red Deer

Bower Place mall made sure Red Deer families were able to have… Continue reading

New Brunswick premier urges caution as floodwaters continue to rise

FREDERICTON — Rising floodwaters have forced the closure of at least 25… Continue reading

Witnesses still struggling one year after deadly Yonge Street van attack

TORONTO — The survivor guilt settled in moments after he saw all… Continue reading

‘Shocking violation’: Parish prepares to re-bury remains after grave plundered

ST. JOHN’S, N.L. — Largely untended for decades, the toppled and faded… Continue reading

President attends Easter service following slew of tweets

PALM BEACH, Fla. — President Donald Trump is using Easter morning to… Continue reading

Easter Sunday blasts kill at least 207 in Sri Lanka

COLOMBO, Sri Lanka — At least 207 people were killed and hundreds… Continue reading

Soldiers deploying to flood-prone areas as water levels rise in New Brunswick

FREDERICTON — About 120 Canadian soldiers will soon be deployed in western… Continue reading

Soldiers deploy across Quebec after flood-caused sinkhole claims woman’s life

MONTREAL — Canadian Armed Forces are deploying in three regions across Quebec,… Continue reading

Most Read