Merkel Supports Magna

German Chancellor Angela Merkel once again expressed her support for Magna in its race to get control of German manufacturer Opel and even went as far as saying that a final deal will be reached over the next few days, Autonews reported.

The announcement was made after the meeting she had with Russian president Dmitry Medvedev who already said he goes to Germany to push for a favorable resolution for Magna.

"There are still a number of questions to be cleared up. But the Magna concept offers excellent starting points," said Merkel at a joint news conference with Medvedev. "It offers Opel a chance and also creates the possibility of establishing a strategic partnership in the car sector with Russia."

When it comes to the other bidders for Opel, one person close to the matter stated that as far as BAIC is concerned, they are loosing ground to Magna. This was not confirmed by Merkel, who only said she is favorable of the Canadian manufacturer.

"That's why we are doing all we can to resolve the remaining questions in the next few days and we are counting on Magna to do its bit," Merkel said.

"We are looking at the project with interest and optimism," Medvedev added. "We will try to make progress in realizing it."

Yesterday, Jochen Homann, head of the government's Opel Task Force, said the the third bidder for Opel, RHJ International, is not a favorite of the German state, denying a report which placed the RHJ in pole-position.