Berlin: Future of Opel and Vauxhall

Talks have been going on all night in Berlin over the future of Opel and Vauxhall, and those talks broke down in the night without a decision being reached. The discussions have been going on as to who should purchase the European unit from troubled automaker, General Motors.

BBC News reports that officials involved in these talks have blamed the delays in talks over the shock revelation that Opel would need an extra 300m Euros, that is about $415m, and that is just in short-term funding. Before the German government chooses its preferred bidder, they want more information from GM and the US Treasury

One of the three bidders has now pulled out, leaving just Canada’s Magna, and Italian carmaker Fiat in the running. Beijing Automotive Industry Corp had shown a last-minute interest, but German officials had not received a full plan from them. Hopefully the German government should receive that information by Friday.