VW Reportedly Made an Offer for Opel After Hyundai Manifested Interest

Volkswagen thinks it can do better at managing its fellow German carmaker than GM, while the Americans say they are not interested in selling Opel to either the Chinese, who are in desperate need of their technology, or Das Auto, who wants to rule the world. To shed a little light on the subject, we’ll have to delve deeper into the gray world of business magazines, that usually talk at length about stuff that has nothing to do with hp, Nm, LEDs and LSDs, more specifically EPS, cash flow and dividends.

According to one such German publication, Manager Magazin, Volkswagen has not only expressed interest but after carefully evaluating Opel’s market value made a still-unknown offer. It was not, however, enough and GM refused it. The hurried move was made after VW learned that Korean carmaker Hyundai allegedly also manifested its interest in the European brand.

Opel reportedly decilined to comment on the rumor, and a company spokesperson called the German magazine’s report “pure speculation” and indicated a previous statement regarding the matter in which GM said: “Opel has been a part of the GM family since 1928 and remains important for the company.”

We thought this whole GM/Opel/VW thing was over with, but a veritable cold war is starting and the other carmakers are keen to join the fray.

The whole mess started when new circulated that GM GM allegedly was no longer in need of Opel’s experience in manufacturing small cars, as well as low emission and fuel efficient engines, and that it could replace the German brand with its South Korean GM Chevrolet unit.