Forester: Magna has ‘considerable lead’ over other bidders in buying Opel

GM’s Europe President Carl-Peter Forester said the he expects that Opel will soon be sold to a consortium led by Magna International soon, reports Automotive News. In an interview with Frankfurter Allegemeine Zeitung, Forester said that Magna has a “considerable lead” over other bidders.

“I am quite confident after a top-level meeting of GM and Magna, where broad consent was reached,” Forster said. “It’s only about details.”

Forester did not give any details on the date, but said that “it would be great if it worked out by mid July.”

It’s been recently reported that Fiat has reassured GM that they are still interested in purchasing Opel but said that its current bid is the best the company could offer. Last week, Reuters reported that Chinese automaker Beijing Automotive (BAIC) has also submitted a bid to buy a stake in General Motors” Opel brand.

– By: Omar Rana