GM rejects Opel sale talk
November 21, 2008 Posted by: Richard Lawton
A report in UK’s The Times newspaper claims that the embattled car giant General Motors has rejected an audacious offer for European marque Opel.
German solar power group, Solarworld offered a total of €1bn for Opel’s four car factories and a research centre, comprising of €250m in cash and €750m in bank credit. Solarworld hoped to turn the car company into the “first green European automotive group.”
General Motors rejected the proposals.
Opel employs about 25,000 workers in its German plants in Ruesselsheim, Bochum, Kaiserslautern and Eisenach.
Could GM’s much commented-upon financial troubles force a sale?
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