Business News
GM confirms decision to keep Opel, scrap Magna deal (Urgent)
Nov 3, 2009, 21:56 GMT
Washington - General Motors' board voted Tuesday to hold on to its Opel division rather than sell a majority stake to Canada- based Magna, ending months of uncertainty and dashing the hopes of German officials.
'Given an improving business environment for GM over the past few months, and the importance of Opel-Vauxhall to GMs global strategy, the GM board of directors has decided to retain Opel and will initiate a restructuring of its European operations in earnest,' GM said in a statement.
COMMENT
blog comments powered by DisqusLatest Headlines in Business
- 1. US unemployment drops further, but figures disappoint
- 2. Japan stocks down as euro debt outweighs positive US data
- 3. Iraq resumes oil flow after pipeline blast in Turkey
- 4. Spanish bond auction lifts eurozone worries, sinks Japan stocks
- 5. ECB holds rates, rules out early exit from emergency measures
Older Talkback
