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Business Briefing / Autos

Opel talks said to be in trouble

August 22, 2009|Times Wire Reports

Talks between General Motors Co. and the German government over which of two bidders will take control of GM's Opel unit have run into "serious challenges," a person with knowledge of the talks said.

GM's board, in a telephone conference call meeting, made no decision between bids from a consortium led by Canada's Magna International Inc. and Brussels-based investor RHJ International.

The board questioned the aid package offered by the German government in the deal because it only included an option to fund the Magna group, said the person, who didn't want to be identified because the talks were ongoing.

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