German Government: $2 billion for GM subsidiary Opel

By: Alan Ng | Posted: May 28, 2009 | No Comments
Filed under: Autos

It’s been revealed that the German government could lend $2 billion USD to General Motors subsidiary Opel. The finance minister has said that the money would help to keep carmaker Opel running, once an investor is found.

It looks like this is a move which Opel will hope happens, as they are running out of time with General Motors keeping the pressure up as they look to sell Opel as part of their ongoing bankruptcy problems.

The move will be fronted by Magna-Sberbank who are in pole position for the rights to Opel. Workers from Opel have naturally welcomed the bid as they hope to hold on to their jobs.

For the full story, watch this video report here.

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