Home
News
In Focus
Business
Metro
Nation
World
Sports
Feature
Opinion
View more »Opinion Columns
Wan LixinOpinion deputy editor of Shanghai Daily
Restaurants get off to a quick start thanks to game-changing policies
High service charges on event ticket refunds call for further regulation
Sunday
- Subscribe
New Opel offer includes rights
Source: Agencies |
July 21, 2009, Tuesday
|
Print Edition
Print Edition
A Magna-led consortium of bidders for Opel was set to make a new offer for the German car maker yesterday that includes a demand for rights to its intellectual property, a Russian newspaper reported.
Final binding offers were due at the close of business in Europe yesterday in what appeared to be a three-horse race for General Motor Corp's European unit.
Belgian-listed holding RHJ International confirmed yesterday it would be submitting a "compelling" offer. Magna, the Canadian auto parts supplier, is expected to join it and Beijing Automotive is a possible third bidder.
Citing a single source, the Kommersant daily said the Magna consortium, which includes Russian state bank Sberbank, would make its new offer "in the form of an ultimatum" and leave the talks if it was not accepted.
Magna would want to sell Opel cars under its own brand and make any changes it wished to Opel designs, as well as use Opel technology for new models, the daily said, adding the Russian government supported the proposal.
Analysts have said a Russian role in an Opel buy would make sense only if it brings access to new technology which would help Russia revive its largely-stagnant domestic auto makers.
Sberbank, a presumed financier of the deal, is expected to be a short-term holder of Opel equity if the bid is successful and would likely pass it on to a Russian auto maker.
Final binding offers were due at the close of business in Europe yesterday in what appeared to be a three-horse race for General Motor Corp's European unit.
Belgian-listed holding RHJ International confirmed yesterday it would be submitting a "compelling" offer. Magna, the Canadian auto parts supplier, is expected to join it and Beijing Automotive is a possible third bidder.
Citing a single source, the Kommersant daily said the Magna consortium, which includes Russian state bank Sberbank, would make its new offer "in the form of an ultimatum" and leave the talks if it was not accepted.
Magna would want to sell Opel cars under its own brand and make any changes it wished to Opel designs, as well as use Opel technology for new models, the daily said, adding the Russian government supported the proposal.
Analysts have said a Russian role in an Opel buy would make sense only if it brings access to new technology which would help Russia revive its largely-stagnant domestic auto makers.
Sberbank, a presumed financier of the deal, is expected to be a short-term holder of Opel equity if the bid is successful and would likely pass it on to a Russian auto maker.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
