Austria, Poland to Grant Opel Financial Aid
The involved parties also made significant progress in talks with the United Kingdom and Spain, Guttenberg told Reuters, as two countries initially opposed Magna's bid due to the proposed job cuts. The German official also gave assurance that negotiations on the sale are still under way and, even if the deal was expected to be agreed last week, there is no doubt this will happen in the near future.
"We still have to clear up a few things with the European Commission," Guttenberg told a news conference. "I think all players in the deal are very relaxed about this."
Guttenberg said the Opel sale has been delayed a few days due to a number of issues still unsolved between the involved parties. The deal is expected to get the go-ahead this week, he said, but not all details on the financing to be provided by countries hosting Opel factories have been settled yet.
"It is not seen as a problem by the companies if it's delayed by a couple of days," Guttenberg said.
According to the terms of the deal, Canadian - Austrian partsmaker Magna International will take control of a 55 percent stake in Opel while General Motors will continue to hold 35 percent. Opel's employees will receive the remaining 10 percent.