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Three bids to revive an ailing car maker

AT least three bids were submitted to the German government yesterday from suitors interested in acquiring or taking a stake in the ailing Adam Opel GmbH, a General Motors Europe spokesman said.

Chris Preuss, a spokesman for the Zurich-based auto maker which owns Opel, told The Associated Press that the bids had been received but did not identify who had filed them.

So far, Italian auto maker Fiat SpA has not been shy about courting Opel, with its Chief Executive Sergio Marchionne visiting Germany several times in recent days to meet with state and union leaders at the car maker's four plants.

Fiat wants to wrap GM Europe, including Opel, into a global car-making powerhouse along with Chrysler LLC.

Canadian auto parts maker Magna International has also said it is considering a stake in the car maker, as has the association representing Opel dealers. On Friday the European Opel Dealer Association endorsed a plan for a minority stake of up to 20 percent by investing 500 million euros (US$682 million).


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