G.M. Said to Seek Alternate Buyers for Opel

As General Motors and the auto-parts company Magna International struggle to conclude a deal for Opel, G.M. is talking to other potential buyers in a bid to win better terms, according to the officials involved in the negotiations, The New York Times’s Nelson D. Schwartz and David Jolly report. While Magna, based in Toronto, remains the favored buyer of the German government, G.M. has pressed for the right to regain control of Opel in several years, according to the officials, but Magna has so far refused to budge. Under the terms of a preliminary deal brokered by Berlin before G.M.’s bankruptcy filing on June 1, G.M. and Sberbank, a Russian lender controlled by the Kremlin, would each hold 35 percent of Opel, with Magna owning 20 percent and Opel’s workers controlling the remaining 10 percent. On Tuesday, Siegfried Wolf, a... [read full story]                    

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