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German Government Has to Decide on Opel
Opel is still the center of attention in the automotive industry. The bidders are ready to take over the company and start working with it, but the final word is up to German government.
There are three companies which want to own the marque: Italian automaker Fiat, Russian-Canadian partnership VAZ-Magna and Belgian investment consortium RHJ international. If German government approves one of the bidders, it promises to give a $9.7 billion loan to support and restore the development of the manufacturer.
It has been reported that Chinese automaker Beijing Auto has also planned to bid, but they were too late and the bid was turned off.
Before the final decision is made the German authorities want the U.S. Treasury to protect Opel from GM bankruptcy filing. If this condition is done, Berlin offers a $2.1 billion bridge loan that will help Opel to survive in the time of ownership change.
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