Germany Tells General Motors Aid Was not Available Only to Magna
(23 October 2009)
Following to the support provided by the German government to the Canadian car company Magna International for the purchasing of Opel, an inquiry was opened by the European Competition Commissioner: it is suspected that Germany improperly favoured Magna, in order to influence the election of the purchaser of Opel, member of General Motors.
The German government affirmed this week that these assertions were eroneous, and that public aids were still available for other potential purchasers interested in the acquisition of Opel.
Although the bidding operation is not blocked, General Motors will still have to study if they will stick to their decision to have Opel purchased by Magna.
Source: Bloomberg
