Chinese manufacturer BAIC is no longer in the running to buy Opel/Vauxhall from General Motors, according the deal’s chief negotiator.
After the talks yesterday involving GM, the German government and the three remaining Opel bidders – RHJ Intentional, Magna and BAIC – GM said it had whittled down the potential new owners to two.
“We had a good and thoughtful discussion around the key operating metrics and key issues associated with the three final offers we received on Monday evening,” said John Smith, Opel’s chief negotiator for the deal.
“We have agreed to continue detailed talks with both Magna and RHJ to secure Opel's future.”
More talks are scheduled to take place in the coming days, although a quick decision is not expected.