GM Doesn't Want Russians to Control Opel

Two weeks ago, General Motors delayed a decision on choosing an Opel bidder but hasn't provided more details on the matter. Well, it appears that the American manufacturer actually has a very good reason for blocking the deal: the US government, which owns a 60 percent stake in the General Motors, Opel's parent brand, doesn't want Russians to control the German unit.

According to a report by AFP citing the German weekly Der Spiegel, General Motors is thus more interested in RHJ's proposal which doesn't include Russia's backing.

Germany on the other hand is still supporting Magna who, with the help of the state-controlled Russian bank Sberbank, wants to take control over a 55 percent stake in Opel. German Chancellor Angela Merkel even revealed that she's ready to intervene personally to favor Magna.

"We believe that it is good and correct that when it comes to the future of GM Europe, of Opel and GM, a decision is made as soon as possible. But substance must come before speed and if there are still issues to be resolved, then we will resolve them," Merkel said in an interview on Sat1/N24 television.

Furthermore, the Germans are asking the US government to get involved in the talks and help General Motors make a decision on the matter, in spite of Obama's statement that he doesn't want to influence the American manufacturer.

"The United States government now shares responsibility for finding a way past GM's leadership weakness and helping us finally to reach a sustainable decision," Juergen Ruettgers, premier of North Rhine-Westphalia, Germany's most populated state, said last weekend.