GM to Continue Opel Negotiations Till May, Hints at Possible Sale

There are a lot of rumors surfacing these days when it comes to GM's German unit Opel but, according to General Motors' new CEO Fritz Henderson, negotiations regarding a potential investment of an outside party will continue into early May. What does this mean? First, Henderson indirectly confirmed that multiple investors are actually interested in buying the German manufacturer and all the recent rumors pointing to this subject are indeed true.

Secondly, it means that Opel might be after all sold in early May, with General Motors facing a 60-day deadline in the United States to revise the survival plan and convince the local government it could step back into profitability.

"These discussions continue as we speak through April and will continue into early May," Henderson was quoted as saying by Autonews.

There are a lot of rumors pointing to a number of interested parties when it comes to Opel. However, according to various media reports, Magna and Fiat are now leading the negotiations, with both companies eyeing the controlling stake in the German unit. True or not, Opel is now desperately seeking support in Europe, with around 3.3 billion euros needed to fill a financial gap and get through 2011.

Although linked with an Opel acquisition every once a in while, Fiat repeatedly denied reports, claiming that it is only interested in finalizing negotiations with Chrysler and form the over-discussed strategic alliance.

"They've written about it in the newspapers? No, no," Fiat Chairman Luca Cordero di Montezemolo said a few weeks ago in what seems to be a surprising reaction to a press question. Since we're not sure whether di Montezemolo was surprised by the fact that the press heard about it or by the question's nonsense, we guess we'll still have to wait until early May and find out what's going to happen with the good old Opel.
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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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