Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

Tunisia's Parliament votes on new Government

Read more

MEDIAWATCH

French court rules #burkini ban "clearly illegal"

Read more

THE WORLD THIS WEEK

Biden in Turkey, Colombia Peace Deal, Ethiopia Olympic Protest (part 2)

Read more

THE WORLD THIS WEEK

Earthquake in Italy, French Burkini Ruling (part 1)

Read more

FRANCE IN FOCUS

The hidden secrets of Les Invalides

Read more

FOCUS

Pro-Opposition stronghold Port-Gentil feverishly awaits presidential elections

Read more

ENCORE!

Alexis Michalik: treading the boards in the footsteps of 'Edmond'

Read more

REPORTERS

Getting away with murder in DR Congo

Read more

IN THE PAPERS

'Why does Italy refuse to see the seismic risk?'

Read more

Business

Three bids for GM's struggling Opel

Latest update : 2009-05-22

As expected, Italian carmaker Fiat, Canadian autoparts maker Magna and the RHJ International holding company have all submitted their bids to take over troubled German carmaker Opel, subsidiary of General Motors.

AFP - General Motors Europe confirmed Wednesday that Italy's Fiat, Canadian autoparts maker Magna and the RHJ International holding company have made offers to take over its Opel unit.

"The three have all presented formal offers," a GM spokesman told AFP. "There were no surprises."

Fiat had earlier in the day revealed it had put down an offer for Opel and its British brand Vauxhall.

The others are Magna, with support from Russian manufacturer GAZ, and Brussels-based RHJ International, whose main shareholder is the founder of the US investment fund Ripplewood.

The German government had asked for detailed bids to be submitted before 6 pm (1600 GMT) in order to determine what state aid might be forthcoming.

The DresdnerKleinwort bank, a unit of the recently part-nationalised Commerzbank, has been tasked with studying the offers.

Date created : 2009-05-20

COMMENT(S)