Opel Unions Agree to Massive Cost Cuts
3 Nov 2009, 16:15 UTC · By: Daniel Patrascu / Another important step was taken today by Opel, at about the same time GM's board will meet and (finally, we hope) decide the German carmaker's fate: Opel unions decided to give the manufa...
Deripaska Met with GM and Magna Officials
2 Nov 2009, 11:22 UTC · By: Bogdan Popa / Oleg Deripaska, owner of the Russia's second-largest automaker GAZ, travelled to the United States twice this year and met with General Motors CEO Fritz Henderson and Magna International co-CEO...
Ford of Europe Afraid of Magna-Opel Deal in Russia
2 Nov 2009, 09:54 UTC · By: Bogdan Popa / If the deal between Magna and Opel goes through, it might represent a serious threat to Ford's Russian operations, Ford of Europe President John Fleming said in a statement. According to prelim...
Ex-Fiat CEO to Head Opel Under Magna Ownership
2 Nov 2009, 09:30 UTC · By: Bogdan Popa / In case Magna finally manages to complete the Opel takeover and snatch control of the company, Herbert Demel, currently a top executive of the Canadian - Austrian partsmaker, is favorite to head the...
UK, Magna to Agree on Opel/Vauxhall Aid
30 Oct 2009, 08:38 UTC · By: Bogdan Popa / The United Kingdom is close to reaching an agreement with Magna International over a financial package for Opel and its British sibling Vauxhall. British Business Secretary Peter Mandelson said on T...
German Minister Says GM Keeping Opel Is Unlikely
30 Oct 2009, 08:04 UTC · By: Bogdan Popa / Officials involved in the Opel - Magna deal have been dealing with all kinds of rumors in the last few days but one surprising scenario broke cover this week, claiming that General Motors might afte...
Magna, Opel Confident the Deal Will Be Done
29 Oct 2009, 09:29 UTC · By: Bogdan Popa / Even if General Motors' retaining possession of Opel and restructuring using government money gets closer to reality, Magna and Opel executives expressed their confidence that the agreement wil...
GM Sources Admit Magna Picked Following Political Pressure
28 Oct 2009, 08:53 UTC · By: Bogdan Popa / Magna is getting farther when it comes to buying Opel as every single media report that comes out reveals a new hidden fact that could block the deal from getting closed. This time, the daily Financ...
Germany OK with GM Keeping Opel
28 Oct 2009, 08:06 UTC · By: Bogdan Popa / With Magna buying Opel still an uncertain scenario, Germany might approve GM's plan B - the US-based manufacturer might keep the company and start restructuring using government money. Accordin...
Spain Gives Green Light to Magna-Opel Deal
26 Oct 2009, 19:16 UTC · By: Daniel Patrascu / A piece of good news came for Canadian parts maker Magna from Spain today, as one major obstacle was overcome. The Zaragoza facility workers have agreed to accept the proposed job and production cut...
Magna Notify Antitrust Regulators of Opel Takover
26 Oct 2009, 14:24 UTC · By: Bogdan Popa / Magna and its Russian partner Sberbank notified today the European Union antitrust body of its takeover plan for Opel, with regulators announcing a November 27 deadline to decide whether to give the...
GM Might Sell Opel Next Week
26 Oct 2009, 11:50 UTC · By: Bogdan Popa / We've heard it several times in the past but it appears that General Motors will make a final decision on Opel next week as the company's board will hold its monthly meeting to discuss the...
Magna Could Close Spanish Opel Plant...
23 Oct 2009, 13:16 UTC · By: Bogdan Popa / ...in case labor unions are rejecting the last proposal issued by the Canadian - Austrian partsmaker. Spain's industry minister Miguel Sebastian said according to Reuters that Magna might shut ...
GM to Reconsider Magna Opel Bid on November 3
23 Oct 2009, 12:48 UTC · By: Bogdan Popa / General Motors' board will re-study the upgraded Magna takeover proposal on November 3 as part of the company's monthly meeting. Furthermore, the board will analyze Minister zu Guttenberg&...
Avtotor to Assemble Opel Models in Russia
23 Oct 2009, 09:47 UTC · By: Bogdan Popa / Opel's models will still enter production in Russian plants one way or another. While some sources hinted that as part of the Magna - Sberbank takeover Opel is likely to move a part of its prod...
Magna to Further Reduce Opel Job Cuts in Spain
23 Oct 2009, 06:51 UTC · By: Bogdan Popa / Canadian - Austrian partsmaker Magna International reached a new agreement with workers at the Spanish production plant in Zaragoza, this time reducing job cuts to 900 workers. The company was initi...
GM Still Interested in Selling Opel
22 Oct 2009, 07:53 UTC · By: Bogdan Popa / With more and more rumors hinting that General Motors might after all retain possession of Opel, the US-based manufacturer says it is still interested in selling the German brand to a group led by M...
EU Will Not Oppose Opel Sale. Sort of...
21 Oct 2009, 10:30 UTC · By: Daniel Patrascu / The European Union and its Competition Commissioner Neelie Kroes back down on the Opel-Magna deal and now say they will not oppose a sale of the German carmaker to the Canadian manufacturer, passing...
Opel Zaragoza Workers Go on Strike
20 Oct 2009, 13:08 UTC · By: Daniel Patrascu / As hinted earlier today, Opel workers from the Zaragoza plant in Spain decided to go on strike as a mean of expressing their disapproval of Magna's plan for the facility, its workers and the ca...
GM to Discuss Opel's Troubled State
20 Oct 2009, 10:28 UTC · By: Daniel Patrascu / Speculation about a possible Plan B from American carmaker GM to keep Opel, in case Magna fails to take over, regardless of the reason, may be taken to a whole new level after today's GM board ...