GM, Opel and Magna breaking news

A recent article on Telegraph.co.uk has revealed that General Motors have now agreed to sell all of their European businesses including Vauxhall to Magna, for those of you who don’t know Magna are, they are Canada’s biggest autoparts maker.

Negotiations have been ongoing for a long time now, and it is now believed that Magna and their partner Sberbank will now own 55 percent, whereas GM will still hold 35 percent, the rest will be for the company’s workers.

The biggest worry for many is that this could really put peoples jobs under pressure, especially as currently Opel employs 25,000 people in Germany, 5000 employees in Britain will also be concerned. To find out more on the deal follow this link.