GM Starts 2 Day Discussions to Decide Opel’s Fate
Tuesday, September 8th, 2009
The board of General Motors will start convening on the fate of the embattled German unit Opel, an issue that has been unsettled to this day. Though many critics speculated that GM would retain Opel despite that various bidders for the company, nothing clear has been seen on what the actual route Opel will really take.
The board meeting is slated for two days as the board meeting aims to tackle this German unit which employs over 25,000 people in Germany alone. Among the bidders who showed interest in acquiring Opel included Magna International Inc. and Russian state-backed bank Sberbank. A third bidder in RHJ International of Brussels is also in the mix although it has shared that it will not be keeping as many employees if it does acquire Opel.
(Source) Metro News
Tags: bidders, board meeting, brussels, General Motors, german unit, Germany, GM, magna international, magna international inc, metro news, Opel, rhj international, russian state