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August 10, 2009

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Home » Business » Auto

Key Obstacles Remain For Opel Sale

CHIEF executives of General Motors and auto parts maker Magna made some progress in last Friday's talks on the sale of GM's Opel unit, but key barriers remain, Opel's top labor leader and board member said on Saturday.

GM CEO Fritz Henderson and Magna Co-CEO Siegfried Wolf met in an attempt to jumpstart a stalled bidding process, with unions favoring a deal between the two sides in preference to financial investor RHJ International.

"Progress was made, but there was no final breakthrough," Opel labor leader Klaus Franz told Reuters. But he said the fact that GM and Magna executives had met was a positive signal.


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