GM Expects 1Bn Euros for Opel from Spain, UK and Poland

Even if it's still reticent over the future of Opel, General Motors is seeking for a 1 billion euros funding package from the governments of Spain, the UK and Poland. Furthermore, in case it would keep Opel and will attempt to restructure the German brand on its own, General Motors would inject around 1 billion euros for this particular goal, the Wall Street Journal reported.

Opinions on who's better to own Opel are still divided, as Germany is still supporting Magna International and is even ready to fund the sale of Opel to the Canadian - Austrian manufacturer. On the other hand, GM has a soft spot for RHJ International who recently revised its takeover proposal, reducing the amount of government participation it wants for controlling Opel.

"RHJ had already stated it was trying to optimize the financial aspect of its offer and it will continue to make every effort wherever possible to reduce the impact on German and European taxpayers without making any new cuts in employment, planned investments or anything else," an RHJ spokesman said.

German Chancellor Angela Merkel, who repeatedly expressed her support for the Canadian - Austrian partsmaker, said the US government should make use of its 60 percent stake in General Motors and help the American carmaker make a decision on Opel.

"I regret that a final decision wasn't made, but I hope it will happen soon, because both for the workers and the economic situation at Opel, we urgently need a decision," she said in the interview with German ZDF television, quoted by Reuters.

"The conflict of interest could be that we think Magna has made a very good offer ... which makes GM a minority shareholder in the whole set-up, and there may be voices at GM ... who'd prefer that this minority shareholding wasn't so marked."
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About the author: Bogdan Popa
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Bogdan keeps an eye on how technology is taking over the car world. His long-term goals are buying an 18-wheeler because he needs more space for his kid’s toys, and convincing Google and Apple that Android Auto and CarPlay deserve at least as much attention as their phones.
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