Report: Germany to reconsider Opel sale, may let it stay with GM

According to a report by Frankfurter Allgemeine Zeitung, Germany’s new government will take a new look at the sale of General Motors’ Opel unit to Magna International and may consider an arrangement where the brand remains with GM.

“The new government will take another look at decisions made up to now on Opel and imminent conditions to be set by the European Commission,” trust member Dirk Pfeil told the newspaper.

“The result could be a solution where Opel stays completely within the General Motors group,” said Pfeil, who is a member of the Free Democrats (FDP), coalition partners to Chancellor Angela Merkel’s conservatives in the German government which will be sworn in later this week.

GM’s board of directors will meet on Nov.3 to reconsider the deal.

– By: Omar Rana

Source: Reuters