Volkswagen: Magna / Opel and conflict of interest
Filed under: Autos | By: Peter Chubb
Posted on: June 5, 2009 | 1 Comment
What has the world come to, gone are the days when carmakers left each other alone to get on with their own business. Things are more difficult now as most have them have a stake in companies that they also have, take some of Magna’s clients, it seems that they are not happy with its majority stake in Opel, Volkswagen being one of them.
One of the clients along with Volkswagen has cried foul and said that the majority stake that Magna has in Opel is a conflict of interest. Magna is a major supplier for VW and its other brands, and as we know, Opel is its competitor.
According to Automotive News, it has been suggested that if Opel receives preferential treatment over Volkswagen, then something will happen. If the deal goes through, then Magna and its partner Sberbank will own 55 percent of Opel, GM will keep its 35 percent and the other 10 percent will be shared with Opel’s 25,000 employees.
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Fake illegal lobbyiest, bully bankruptcies, by us treasury. We are going to loose 100’s of billons of dollars, then end up with sqwuat.