GM boss sets date for naming successful bidder
11 May 2009

Opel's new owner will be decided by the end of this month, according to owner GM's boss Fritz Henderson.

“We are speaking with multiple bidders," said Henderson on Monday. "We would like to have at least some understanding of what the agreement might look like no later than the end of this month, slightly before the end of this month."

Henderson added that the buyer would not be decided by the German government, but stressed that its views would be taken into account.

“We are going to make sure any partner we pick is going to be suitable for them (the German government). We need their support,” he said.

The German government will be influential in the sale because it has has been asked to provide 2.6 billion euros (£2.3 billion) in loan guarantees to finance a new company.

Henderson would give no information on the structure of any deal or on how much of its European business GM will sell.

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