No deal will be completed before 3 November
23 October 2009

General Motors has delayed completing its sale of Opel/Vauxhall to Magna until at least 3 November.

Writing in his blog, GM’s chief negotiator John Smith said the deal would be discussed at the next GM board meeting, which is scheduled for that date.

The main topic on the agenda will be Germany and the EU’s requests for GM to clarify that it chose to sell Opel to Magna for business and not political reasons. GM received a letter for German minister Karl-Theodor zu Guttenberg asking for clarification after being prompted by EU concerns.

“Given the significance of the Opel transaction, GM's board will soon meet in its regularly monthly meeting to consider Minister zu Guttenberg's letter and changes to the Magna/Sberbank proposal that have occurred since its last review on September 9,” said Smith.

In order to keep the deal progressing, Smith said GM and Magna would use the time before the meeting to discuss ongoing issues including labour cuts, and plant closures.

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

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