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Opel Sale: to Be or not to Be

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Opel deal still remains unsolved and now General Motors thinks about keeping the brand. So far the spokesman of the company says they would not comment anything on Opel story.

Just couple months ago the deal with Magna-VAZ seemed very clear, the companies have agreed on almost all points of the sale, and had to sign the last documents last Thursday, but European Union interfered and did not allow selling German brand to the Canadian-Russian partnership. According to the EU competition head Neelie Kroes Germany was ready to give state aid for Opel recovery to Magna bidding group, but since Russian firm joined them, it changes the conditions and breaks the internal market rules of the European Union.

The American manufacturer still has strong hope that the deal with Magna will work out. This would be the best solution, but if not, GM will be forced to restart Opel sale or keep the brand. If Opel remains in GM possession, it will have to be restructured either with the help of government support or through a hard road of bankruptcy that GM had to undergo itself.

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