GM CEO says he’s open to other bids for Opel besides Magna

It seems like Opel’s sale to Canadian auto parts group Magna International isn’t final just yet. According GM’s CEO Fritz Henderson, GM of Europe is willing to broaden discussions if necessary.

“We’re just negotiating, we don’t have an exclusivity agreement (with Magna), so we are open to discussion with others,” Fritz said. “We are spending a lot of time with Magna trying to negotiate a more definitive agreement,”

Under the agreement, Opel/Vauxhall assets have been pooled under Adam Opel GmbH, with a majority of those shares being put into an independent trust.

Dieter Althaus, premier of the eastern German state of Thuringia said that offers by other potential Opel investors provided no real alternative to the Magna deal.

– By: Omar Rana

Source: Reuters