Doubts linger on Opel deal
Published: 26 June, 2009, 17:42
A flag bearing the logo of German carmaker Opel (AFP PHOTO / Philipp Guelland)
TAGS: Investment, Manufacturing, Russia and the global economy, Big deal
General Motors wants to keep the right to buy back Opel’s shares, which is giving the Sberbank-Magna consortium doubts about the deal to buy GM's European operations.
Earlier Sberbank’s deputy CEO Denis Bugrov did not exclude the deal’s possible failure.
That raised speculation about a possible Opel acquisition by a Chinese company. Sberbank’s CEO Herman Gref said talks with GM continue.
“The deal can’t be cancelled as it has not yet been concluded. If the new terms are sufficient for our bank, the deal may be agreed in September, while the preliminary agreement may be signed in July.”
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