GM Cancels the Sale of Opel

Last week, General Motors officially announced that the transaction of Opel to the Canadian Magna was cancelled. The American automotive group justified its decision by explaining that considering the improvement of the economic results of the European brand of GM, the group would be able to manage alone its reorganization.

This new event in the bidding process of Opel was totally unexpected, more particularly for the German government, which provided important economic help in order to maintain the German plants of the group.

Source: Rediff Business