Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Bye-EU Tapestry is not to all tastes

Read more

THE POLITICAL BRIEF

Maverick Mélenchon: French far-left launches its own web TV

Read more

FOCUS

Rise of sandstorms plagues Middle East

Read more

PEOPLE & PROFIT

Superjumbo travel: Discussing the future of the A380

Read more

ACCESS ASIA

Fighting unemployment: Millions of Indians face layoffs amid shrinking job market

Read more

FRENCH CONNECTIONS

Deneuve vs. #MeToo: Exploring feminism 'à la française'

Read more

ENCORE!

Meryl Streep on gender equality: 'Something has cracked wide open'

Read more

INSIDE THE AMERICAS

Trump's presidency, one year in: 365 days of outrageous tweets and blunders

Read more

MIDDLE EAST MATTERS

War in Syria: UN refugee agency denounces rape of men and boys

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)