GM board not expected to announce Opel's new buyer until October
8 September 2009

General Motor’s board is expected to further delay its decision on who will takeover Opel/Vauxhall, according to German newspaper reports.

German business daily Handelsblatt said the GM board was starting a two-day board meeting today and it was likely to decide on delaying a decision until October.

The paper claims GM’s preferred choice is now to keep Opel, rather than sell it to either RHJ International of Magna. Its second choice would be for a deal with RHJ, despite the German government’s pressure to sell to Magna.

GM signed an initial agreement in May to sell a majority stake in Opel and its British sister brand Vauxhall to a Russian-backed consortium led by Magna.

But GM executives are worried that Magna could transfer important technological expertise to its Russian industrial partner GAZ, which is the country’s second largest manufacturer behind GM.

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

Join the debate


8 September 2009

No wonder GM are in a mess. By delaying until October, they miss the German elections and the pressure that puts on job retention. They will then try and borrow the money to retain Opel. Who is going to lend them this given they don't have a realistic plan to return to profit? GMs share is sliding in the US and their credit rating remains at rock bottom. The last thing Opel/Vauxhall needs is continuing GM ownership.

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • Lexus LC500
    Car review
    20 October 2017
    Futuristic Lexus LC coupé mixes the latest technology with an old-school atmospheric V8
  • Maserati Levante S GranSport
    First Drive
    20 October 2017
    Get ready to trade in your diesels: Maserati’s luxury SUV finally gets the engine it’s always needed
  • Jaguar XF Sportbrake TDV6
    First Drive
    19 October 2017
    The handsome Jaguar XF Sportbrake exhibits all the hallmarks that makes the saloon great, and with the silky smooth diesel V6 makes it a compelling choice
  • Volkswagen T-Roc TDI
    First Drive
    19 October 2017
    Volkswagen's new compact crossover has the looks, the engineering and the build quality to be a resounding success, but not with this diesel engine
  • BMW M550i
    First Drive
    19 October 2017
    The all-paw M550i is a fast, effortless mile-muncher, but there's a reason why it won't be sold in the UK