Chinese firm makes non-binding offer to GM for Opel

General Motors Corp. confirmed Friday that it has received a non-binding offer for its Opel division from the holding company of a Chinese automaker. GM Europe spokesman Christopher Preuss refused to give details of the offer from Beijing Automotive Industry Holding Co., but the offer adds to the U.S automaker's options should negotiations with Magna International Inc. fall through. The German government selected Magna this spring as its preferred bidder for Opel, but progress in talks has been slow amid reported disputes over technology rights. Italian automaker Fiat and Brussels-based investment firm RHJ International also previously expressed interest in a stake in Opel, and there have been unconfirmed reports in recent days of a renewed interest by RHJ. Fiat has also said that it hasn't given up on getting Opel. Magna,... [read full story]                    

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