RHJ CEO criticises German government for discounting its offer
10 August 2009

RHJ International still has an excellent chance of buying Opel/Vauxhall from General Motors, according to its CEO Leonhard Fischer.

Despite widespread backing from Opel and the German government for the rival Magna bid, Fischer said it was wrong to discount RHJ from the deal and a basic contract between GM, Opel and RHJ had already been agreed.

“Predeterminations in preference of a specific investor only make the already complex sales negotiations more formidable,” said Fischer. He added that the German government was wrong to “ban competition from the bidding process”.

Fischer said Opel was no longer talking to RHJ at the moment because a deal had already been agreed, while talks with Magna were still ongoing.

GM’s chief negotiator, John Smith, has praised RHJ’s bid as simple and easy to implement but it has not received favour from Opel unions and German government officials.

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