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Sources: General Motors will not sell Opel
Nov 3, 2009, 20:58 GMT
Detroit/Zurich - The US car maker General Motors (GM) will not sell partial ownership in its European subsidiary Opel after all, sources told the German Press Agency dpa Tuesday.
The decision was made by the GM board of directors in Detroit, according to sources in the negotiating team.
In September, GM executives had recommended the sale of 55 per cent of Opel to the Canadian-based parts manufacturer Magna and its Russian partner Sberbank.
The European Union had raised concerns about possible political pressure brought by the German government, and urged GM to reconsider the decision.
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