Text Version
RSS Feeds
Newsletter
Home Forum Photos Features Newsletter Archive Employment
About US Help Site Map
SEARCH   About US FAQ Site Map Site News
  SERVICES
  -Text Version
  -RSS Feeds
  -Newsletter
  -News Archive
  -Give us feedback
  -Voices of Readers
  -Online community
  -China Biz info
  What's new
 -
 -
GM reports progress in Opel talks with bidders
+ -
10:23, August 07, 2009

 Related News
 GM to introduce plug-in hybrid Buick in 2011
 GM sales extend robust patch
 Germany insists right to choose Opel's buyer
 GM says Opel talks to continue with RHJ, Magna
 BAIC's Opel bid setback 'expected'
 Comment  Tell A Friend
 Print Format  Save Article
General Motors Co. reported progress Thursday in the talks for the sale of its German-based Adam Opel carmaker with bidder Magna International Inc.

GM Group Vice President John Smith said in a blog posting that GM had held meetings over the past week with Magna, a big Canadian supplier, and the other remaining bidder for Opel, Brussels-based RHJ International (RHJI), to discuss their final proposals submitted last month.

"As the RHJI proposal is the simpler of the two, there were very few significant issues with this offer, so most of our time has been spent working with the Magna and Sberbank team," Smith said, referring to Magna's partner, Russia's state-control Sberbank. ," Smith said.

"We started the week with about 30 issues to resolve, including New Opel involvement with Chevrolet in Russia, intellectual property transfer rights in Russia, advanced technology access, product development responsibilities, minority shareholder rights and other items," Smith said.

"I can report some progress, resolving perhaps one-third of the issues during a first day of talks. However, the difficulties of getting to 'yes' with three parties in the room were very much in evidence yesterday," he said.

The Opel negotiations have been difficult because many parties are involved, including German federal and state officials. Ruesselsheim-based Opel employs 25,000 people in Germany.

Russia's Sberbank, which would acquire 27.5 percent of Opel under Magna's latest proposal, has said it expected to transfer that stake to a Russian automaker.

Source:Xinhua



  Your Message:   Most Commented:
80 pct of netizens agree China should punish Facebook
LA police: Michael Jackson death may have been 'homicide'
Chinese netizens call for punishing Turkey
Al-Qaida threatens Chinese abroad
Public angered by Turkish PM's 'genocide' accusation

|About Peopledaily.com.cn | Advertise on site | Contact us | Site map | Job offer|
Copyright by People's Daily Online, All Rights Reserved

http://english.people.com.cn/90001/90778/90858/90864/6721690.pdf