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/8247971.stm
The article has changed 29 times. There is an RSS feed of changes available.
Previous version
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
Next version
Version 8 | Version 9 |
---|---|
Opel and Vauxhall to go to Magna | |
(8 minutes later) | |
General Motors (GM) has chosen the Canadian car parts manufacturer Magna to buy Opel and sister firm Vauxhall, Germany says. | General Motors (GM) has chosen the Canadian car parts manufacturer Magna to buy Opel and sister firm Vauxhall, Germany says. |
Chancellor Angela Merkel said that GM have attached conditions to the sale. | Chancellor Angela Merkel said that GM have attached conditions to the sale. |
Earlier, there had been rumours that GM could be planning to try to keep control of its European arm. | Earlier, there had been rumours that GM could be planning to try to keep control of its European arm. |
Magna was the German government's preferred bidder. The decision must be approved by the Opel Trust, which is due to hold a press conference shortly. | Magna was the German government's preferred bidder. The decision must be approved by the Opel Trust, which is due to hold a press conference shortly. |
Magna has pledged to keep all German plants open. | |
Rival offer | |
BBC business correspondent Martin Shankleman said that this was the option that the GM board had indicated it did not want. | |
The UK unions were also against it as they feared the UK could be at the forefront of any job losses, he said. | |
See GM production centres in EuropeEnlarge Map | |
UK unions favoured GM keeping control of Vauxhall - saying this would be the best news for British jobs. | |
Chancellor Merkel said that "patience" during discussions had led to a decision being reached. | |
The German-led Opel Trust has controlled the European operations since GM sought bankruptcy protection in the US. | |
It contains representatives from GM, the German federal government and the German states that contain Opel plants. | |
The rival offer had come from the Belgian investment group RHJ. | |
Opel employs a total of 54,500 workers across Europe, with 25,000 based in Germany. | |
Its Vauxhall brand employs 5,500 people in the UK, primarily at its two British plants in Luton and Ellesmere Port. | |
Are you a Vauxhall/Opel employee or dealer? Send us your comments using the form below. | |
The BBC may edit your comments and not all emails will be published. Your comments may be published on any BBC media worldwide. Terms & Conditions |