GM to keep Opel/Vauxhall.

[J500ANT]

Well there's a surprise!


SAN FRANCISCO (MarketWatch) -- General Motors Co.'s board has decided not to sell its Opel unit, according to media reports late Tuesday, citing sources briefed on the decision. In September, General Motors had announced it was in a deal to sell a majority stake in its European Opel and Vauxhall operations to a consortium including Canada's Magna International Inc. and Russia's Sberbank. Reuters reported that GM's board decided to axe the deal after European Union officials asked GM if it would have agreed to the deal had it known Germany's 4.5 billion euros, or about $6.58 billion, in state aid would have gone to any buyer. The Wall Street Journal reported that GM has decided instead to pursue a 3 billion euro, or about $4.42 billion, restructuring plan.

[A Scotsman]

BBC is reporting this as well now...

http://news.bbc.co.uk/1/hi/business/8341485.stm

Good news I think.

[J500ANT]

A Scotsman said:

BBC is reporting this as well now...

http://news.bbc.co.uk/1/hi/business/8341485.stm

Good news I think.

I think so. I think GM's stewardship of GM Europe hasnt been too bad. Only their running of SAAB has been iffy.

[JulesV]

This has to be good news all round. In my view they have a pretty decent range of cars now.

[LuS1fer]

J500ANT said:

A Scotsman said:

BBC is reporting this as well now...

http://news.bbc.co.uk/1/hi/business/8341485.stm

Good news I think.

I think so. I think GM's stewardship of GM Europe hasnt been too bad. Only their running of SAAB has been iffy.

...and Corvette and Cadillac in Europe. Oddly, I don't recall anything ever being said about Chevrolwoo.

[arcticgoldfish]

Kind of expected this all along - though I think the Germany govt is going to be unhappy. All that money lent to keep it afloat until it was sold worked out as a nice interest free overdraft for GM to see them through some troubles!!

Now, where is the application form for a similar loan for me to take out??