German government source says sale is still on
26 August 2009

The German government believes GM still wants to sell Vauxhall/Opel, following talks yesterday.

GM's management board "had made it clear" it is still interested in a buyer, a German official told the Reuters news agency.

The news follows reports that GM would hold on to its European operations, rather than sell them off to either Magna or RHJ International.

The sale is complicated because Magna wants to have access to GM's patents, something the company is loathe to allow.

However, the German government is not in favour of a sale to RHJ, fearing greater job losses, and has said it will make the terms of its bridge loan harder if GM picks the company as its preferred buyer.

If GM wants to hold on to Vauxhall/Opel it must pay back the bridging finance it has already received from the German government, which is said to top £1.5 billion. It will struggle to do this, as the US government money it has received is ring-fenced and cannot be spent on foreign operations.

However, it has been suggested that GM could sell or mortgage its assets in China in order to raise around £3 billion.

Twitter - follow all the latest Opel reviews, news and video

Join the debate


26 August 2009

Is anyone else bored with this?

Please just tell us when something actually happens!



It's all about the twisties........

26 August 2009

[quote TegTypeR]

Is anyone else bored with this?


Yep, i just wish they would sell it or keep it.

And i wish Autocar would just tell us when its happend instead of printing nothing for anythings sake.

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • Dallara Stradale
    The Stradale is the first road-legel car from Italian motorsport constructor Dallara
    First Drive
    16 March 2018
    The motorsport constructor's first road car is inspired by Lotus minimalism. Does it thrill on road and track?
  • Hyundai i30 N
    Standard spec is good so paint colour is our car’s only option
    First Drive
    16 March 2018
    What’s Hyundai’s first hot hatch and N-brand debutant really like? Let’s find out
  • Porsche Boxster GTS
    This is the new GTS version of the Porsche Boxster
    First Drive
    15 March 2018
    The 718-generation Boxster is our favourite roadster of the moment – so is this new GTS variant worth the extra outlay?
  • BMW 5 Series
    First Drive
    15 March 2018
    The BMW 5 Series is top of the mid-exec pack, but is there still room for a diesel saloon in everyday family life?
  • Audi A7 front
    First Drive
    14 March 2018
    The new Audi A7 Sportback looks the part, but how does the new Mercedes-Benz CLS rival cope on UK roads? We find out