Areas where Opel factories are based want Magna to buy company
22 July 2009

The German states where Opel factories are based still prefer Magna’s offer for the German car maker, it has been revealed.

Rhineland-Palatinate, Hesse, North Rhine-Westphalia and Thuringia are understood to have discussed the matter in a telephone conference today, two sources told Reuters.

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It had been thought that Belgian financial investor RHJ International was the new favourite to buy the firm.

But Germany's economics minister ruled out allowing GM to include a buy-back clause in its sale of Vauxhall/Opel, which was key to RHJ’s bid.

The German government has a say in who can buy Vauxhall/Opel as it will take on the bulk of the loan guarantees required as part of a deal.

The state and federal governments are represented on the board of a trust that has to approve a sale of Opel.

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