Ford Agrees with Magna - Opel Deal

Carmakers selling cars around the world and doing business with Magna have already raised concerns that a possible acquisition of Opel would lead to a conflict of interests. Volkswagen was even fiercer and said it would monitor the situation very closely as the Canadian - Austrian partsmaker is currently a major supplier so a deal with Opel might very well influence the agreement between the two.

Nevertheless, Ford, another major partner for Magna, said it doesn't see any problem with such a deal and revealed that it will continue to do business as usual even after the acquisition receives the final signature.

"Our ability to compete worldwide remains intact and we feel very good about it," chairman William Clay Ford Jr was quoted as saying by just-auto.com. "I've talked to (Magna) personally about it and for now we feel very comfortable about it. They're an excellent supplier for us and we have a very good relationship and an excellent partnership," he said.

Additionally, Ford revealed that the US-based automaker will consider the Magna - Opel entity a serious competitor and, even if collaborating with the Canadian - Austrian company in the supplying business, it would carefully monitor the auto sector.

"We love our competitive position globally," Ford added. "I don't think we'll have a good read (of the future) until our dealers are re-stocked," the chairman said, according to AFP. "Obviously there are still issues in the financial system but the absolute gridlock... has receded dramatically. We have a very good relationship, we have a great partnership and they have clearly said that they will respect intellectual property and we believe them."