But early indications are German government loan doesn't breach regulations
3 June 2009

European Union anti-trust authorities will examine if Germany's 1.5 billion-euro (£1.3 billion) bridge loan to Opel meets regulations.

The loan has been extended to keep Opel and Vauxhall running while the sale to Magna is finalised. However, there have been concerns that the loan breaches EU competition rules.

"The European Commission will verify that the loan was fully inline with the scheme that we have already approved," Commission spokesman Jonathan Todd said. "We will do it as quickly as possible but it will be dependent on the extent of the information we receive."

Todd confirmed, however, that the EU Commission does not need to approve the loan before it can be given, as the German government previously received EU permission for a scheme to allow it to grant aid in the form of guarantees for investment and working capital loans until the end of 2010 earlier this year.

The only caveat was that only companies that were in difficulty after 1 July, 2008, could benefit from the plan.

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • Kia Stonic
    First Drive
    18 October 2017
    Handsome entrant into the bulging small crossover market has a strong engine and agile handling, but isn’t as comfortable or complete as rivals
  • Hyundai Kona
    First Drive
    18 October 2017
    Hyundai's funky-looking Kona crossover with a peppy three-cylinder engine makes all the right noises for the car to be a success in a crowded segment
  • Citroën C3 Aircross
    First Drive
    17 October 2017
    The Citroen C3 Aircross has got funky looks and a charming interior, but it's another small SUV, and another dynamic miss. Numb steering is just one thing keeping it from class best
  • Skoda-Karoq 2.0 TDI 4x4
    First Drive
    16 October 2017
    Diesel version of Skoda’s junior SUV is unobtrusive and undemanding, but we’d still go for the silkier petrol version of the Karoq
  • Audi Q7 e-tron
    First Drive
    16 October 2017
    Expensive and flawed but this understated diesel-electric Audi Q7 has a lot to offer