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GM exec: Opel talks continue with Magna, RHJI

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[July 23, 2009]  FRANKFURT (AP) -- General Motors Co. says its talks over Opel's rescue will focus on the consortium of auto parts maker Magna International Inc. and Russian lender Sberbank and on RHJ International.

In a statement released Thursday by GM Europe, the automaker's chief negotiator John Smith says that the company has "agreed to continued detailed talks with Magna and RHJI to secure Opel's future."

His remarks echoed similar views by the German government, which met with Smith the day before on the future of Adam Opel GmbH.

Chinese bidder Beijing Automotive Industry Corp. was the third bidder but has failed to make any headway in the talks.

GM Europe could not immediately be reached for further comment.

[Associated Press]

Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.




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