German chancellor reiterates support for Magna deal
11 August 2009

German chancellor Angela Merkel has reiterated her support for Magna International's bid for Vauxhall and Opel, suggesting she is ready to intervene personally to win it the deal.

"I have a clear preference for Magna and want to make that clear again," Merkel told RTL television. "We are in constant talks. I am always informed. If it is necessary, I will join in, of course."

Magna is vying with RHJ International to buy Vauxhall/Opel, but the German government is at loggerheads with GM as to which bidder is best.

GM has voiced a preference for RHJ's bid, saying it is much simpler, notably as it does not include any issues regarding intellectual property rights in the same way Magna's bid does.

However, the German government has a significant say in who the company is sold to, as it will provide financing to the new company. It has consistently favoured Magna's bid, which it is said will result in fewer job losses.

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