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

Nature trail unveiled at RDC

Trail unveiling and tree planting honours Nova Chemicals $2 million donation

Rural municipalities seek more funding to address cannabis legalization

Not enough supports in Municipal Cannabis Transition Program

Culprits smash truck into store in failed attempt to steal ATM

Suspects reversed truck through doors of Eastview IGA early Sunday morning

UPDATED: Flu immunization now available in Red Deer

Free vaccine to Albertans six months and older

WATCH: Blackfalds Fire teaches families about fire safety

An open house was held Saturday in support of Fire Prevention Week

Canada gets into Women’s World Cup with 7-0 win over Panama

FRISCO, Texas — Christine Sinclair isn’t concerned about chasing records. She’s set… Continue reading

Baldwin urges ‘overthrow’ of Trump government via voting

MANCHESTER, N.H. — Actor Alec Baldwin followed up his latest parody portrayal… Continue reading

Prince Harry and Meghan expecting their 1st child in spring

CANBERRA, Australia — Prince Harry and his wife, the Duchess of Sussex,… Continue reading

Sears files for Chapter 11 amid plunging sales, massive debt

NEW YORK — Sears filed for Chapter 11 bankruptcy protection Monday, buckling… Continue reading

Doctors to debate medical pot as more patients expected to ask for prescriptions

VANCOUVER — Doctors with opposing views on whether medical marijuana should be… Continue reading

Halifax smoking ban begins today; city announces several new smoking areas

Halifax’s sweeping smoking ban begins today, two days before recreational cannabis is… Continue reading

Canadians widely unaware of accomplishments of famous women, poll suggests

TORONTO — The organization behind Canada’s Heritage Minutes says provincial education systems… Continue reading

Five things about what’s legal and what’s not in Canada’s new pot law

OTTAWA — Canada’s new law legalizing recreational cannabis goes into force on… Continue reading

Most Read