Currently reading: Sberbank's Opel compensation bid
Russian banking cheif calls for compensation over failed Opel deal

German Gref, cheif executive of Russian bank OAO Sberbank, has suggested that his firm should be compensated by General Motors following the failure of the deal to sell a majority shareholding of Opel/Vauxhall to itself and Magna in November.In a TV appearance on Christmas Day, Gref suggested that GM should pay 'voluntary' compensation to Sberbank, which would have ended up owning 35 per cent of Opel. "We think that GM's commitment went so far that they should have sealed the deal,'' Mr. Gref said.Gref's comments follow those of Russian Prime Minister Vladimir Putin, who said that GM demonstrated an 'arrogant attitude' in its reneging on the deal.Matt Saunders

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VX220EDDIE 28 December 2009

Re: Sberbank's Opel compensation bid

GM have shown to be arrogant over recent weeks and with the ongoing Saab saga this only fuels this! I'm beginning to wonder if its such a good idea Vauxhall/Opel being under GM control?? however i cant see sberbank being compensated!