This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.

You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/8158569.stm

The article has changed 7 times. There is an RSS feed of changes available.

Version 1 Version 2
Deadline for GM's Opel sale looms Deadline for GM's Opel sale looms
(about 4 hours later)
Would-be buyers of General Motors' Opel business have until later on Monday to lodge plans for the firm's future.Would-be buyers of General Motors' Opel business have until later on Monday to lodge plans for the firm's future.
Canadian-Austrian car parts maker Magna International is favourite to buy Opel - which includes Vauxhall in the UK.Canadian-Austrian car parts maker Magna International is favourite to buy Opel - which includes Vauxhall in the UK.
Magna, backed by Russia's Sberbank, wants to use Opel to make an aggressive push into the Russian market. Magna, backed by Russia's Sberbank, has made a last-minute change to its bid in order to placate concerns about its Russian partner's influence.
However, Belgium-based investor RHJ International is manoeuvring to try to make a successful bid - with plans to restructure Opel's operations. However, Belgium-based investor RHJ International is also manoeuvring to try to make a successful bid.
The Magna consortium had looked to certain to win the battle for Opel since May, when the German government supported the move.
However, talks stalled after Magna wanted intellectual property and distribution rights in Russia to be included in any deal.
This is something that GM has been unwilling to concede.
Magna has, therefore, altered its bid, diluting Sberbank's stake.
Instead of Magna taking 20% and Sberbank taking 35% of Opel, the two partners are now proposing an equal share - 27.5% each.
Vauxhall commitment
GM was forced to put Opel up for sale as part of its massive restructuring which saw it go into Chapter 11 bankruptcy in the US - before emerging as a leaner company with less debt.GM was forced to put Opel up for sale as part of its massive restructuring which saw it go into Chapter 11 bankruptcy in the US - before emerging as a leaner company with less debt.
Opel has been placed under the ownership of a trustee in which both GM and the German government have a stake - making the process of deciding a buyer complex.Opel has been placed under the ownership of a trustee in which both GM and the German government have a stake - making the process of deciding a buyer complex.
Vauxhall commitment And last week, German Chancellor Angela Merkel and Russian President Dmitry Medvedev voiced their support for Magna.
The Magna consortium had looked to certain to win the battle for Opel since May - when the German government's supported the move.
And last week, German chancellor Angela Merkel and Russian president Dmitry Medvedev voiced their support for Magna.
However, Opel's future has become less clear-cut after RHJ, which is backed by US private equity firm Ripplewood, said last week that its negotiations with GM and Germany were "at an advanced stage".However, Opel's future has become less clear-cut after RHJ, which is backed by US private equity firm Ripplewood, said last week that its negotiations with GM and Germany were "at an advanced stage".
Both firms' plans are thought to involve cutting about 10,000 Opel jobs - and protecting all four German car-making plants.Both firms' plans are thought to involve cutting about 10,000 Opel jobs - and protecting all four German car-making plants.
Magna has now said that "no immediate plant closures are contemplated" at the Vauxhall sites at Luton and Ellesmere Port, which employ about 5,000 people. However, that commitment has only been made to 2013.Magna has now said that "no immediate plant closures are contemplated" at the Vauxhall sites at Luton and Ellesmere Port, which employ about 5,000 people. However, that commitment has only been made to 2013.
RHJ is also expected to support saving both Vauxhall factories - but may ask workers to take pay cuts.RHJ is also expected to support saving both Vauxhall factories - but may ask workers to take pay cuts.
GM is expected to give its preliminary findings on the final bids to the German and other European governments on Wednesday.GM is expected to give its preliminary findings on the final bids to the German and other European governments on Wednesday.
Next week GM is expected to have a recommendation ready on which bid to accept. That will be put before its board and the US Treasury, which has a majority stake in GM. Next week, GM is expected to have a recommendation ready on which bid to accept. That will be put before its board and the US Treasury, which has a majority stake in GM.