Let’s give it another try shall we? GM board meets again today to discuss Opel

There is no doubt that General Motors’ company is having a very hard time letting Opel go and letting it grow up under a new family. However, the board of directors will meet once again today to talk about what to do with the German brand after failing to come to a conclusion last month.

Many sources have said that GM is considering a plan to keep Opel as an alternative to selling the brand to Magna, the leading bidder in the process. It was reported that GM could raise more that $4 billion in a bid to keep the German brand.

The other bidder, RHJ International, improved its bid earlier this month by offering 300 million euros ($430.8 million) in cash while asking for 3.2 billion euros in state aid. It said that it plans to pay back the aid by 2013.

Even we’re hoping GM comes to a conclusion today.

– By: Omar Rana

Source: Free Press