The situation of embattled carmaker Opel is far worse than was known: <i>West Allgemeine Zeitung</i> reported on Thursday the General Motors unit was losing up to €6 million a day, triple the amount widely assumed.
EU Industry Commissioner Günter Verheugen wants a thorough examination of plans to rescue troubled German automaker Opel, which he believes would ultimately benefit Russia.
The German government said Wednesday it was "still open" to other bidders for Opel while Canada's Magna and General Motors haggled over finalising their preliminary agreement.
General Motors' German unit Opel and its 25,000 employees were staring into the abyss on Friday after the two firms bidding to take control appeared to get cold feet.
Talks aimed at saving General Motors Europe's Opel unit broke down amid acrimony between Germany and the United States on Thursday as fears mounted for tens of thousands of jobs across Europe.
General Motors on Wednesday transferred control of its European factories and patents to its German subsidiary Opel, paving the way for it to be hived off from the beleaguered US auto giant.
As Chancellor Angela Merkel prepared to meet Fiat boss Sergio Marchionne to discuss the future of carmaker Opel on Tuesday, Berlin had to deny Economy Minister Karl -Theodor zu Guttenberg had mooted a total liquidation of GM’s German unit.
Germany’s Economy Minister Karl-Theodor zu Guttenberg said on Sunday all three bids for Opel have shortcomings and suggested it might be better if the struggling carmaker filed for bankruptcy.
Canadian auto parts maker Magna is in pole position in the race to take over struggling General Motor's German subsidiary Opel, a key local politician said Friday.
German Economy Minister Karl-Theodor zu Guttenberg on Thursday said he could imagine using a government-backed trust to help save embattled carmaker Opel.
US investment fund Ripplewood is interested in Opel, the German unit of struggling General Motors for which Berlin is trying to find a buyer, the <i>Frankfurter Allgemeine Zeitung</i> reported on Wednesday.
German carmaker Opel, a unit of General Motors, has said it will slash the salaries of around 300 executives in Europe as part of a drastic cost-cutting program.
Italian carmaker Fiat is prepared to guarantee that Germany’s four Opel plants will stay open if it takes over the troubled General Motors subsidiary, news magazine <i>Der Spiegel</i> reported on Monday.
Italian carmaker Fiat could sign next week a letter of intent to take control of Opel, a unit of troubled US auto maker General Motors, the German newsmagazine <i>Der Spiegel</i> reported Thursday.
Troubled US carmaker General Motors is reportedly prepared to give away its German unit Opel to potential investors who would inject at least €500 million into its operations.
The Opel factory in Eisenach was within hours of being closed two weeks ago, with preparations made for a meeting to tell the 1,800 workers of its demise – a meeting only cancelled by the resignation of the GM boss in the USA.
Political squabbling over the future of ailing German automaker Opel intensified over the weekend as Chancellor Angela Merkel ruled out taking a government stake in the company during a late night Sunday talk show.
The head of troubled German car manufacturer Opel raised the possibility of closing plants in Germany to rescue the group in an interview to be published on Monday.
General Motors executives have told German Economy Minister Karl-Theodor zu Guttenberg that the company is willing to help save their German subsidiary Opel, but the final call whether it becomes independent is up to the US government.
European governments have come together to try to develop a rescue concept for Opel that would not be bound by national borders, it emerged on Friday night.
Carmaker Volkswagen is hoping record profits will help it overtake loss-stricken US giant General Motors and Japan's Toyota within nine years, its management revealed on Thursday.
