• From The BBC:

    The German government has said that after initial evaluations of the three bids for Opel, it still favours a deal with Canadian car parts maker Magna.The government supported Magna’s bid in May, but on Monday General Motors (GM)confirmed that it had received three official bids for Opel. Belgian-based investor RHJ International and China’s Beijing Automotive Industries are also bidding. A buyer for Opel is expected to be chosen by the end of July. A final deal could then be agreed by the end of October. The German government’s preference for the Magna bid “has been confirmed by our evaluations,” said government spokesman Ulrich Wilhelm. Chancellor Angela Merkel said: “We have indicated that we see the Magna concept as a sustainable one.” Complex talksThe ultimate decision on which company buys Opel, which includes Vauxhall in the UK, rests with GM, but the German government will have a big role to play as it has provided a 1.5bn euro ($2.13bn; £1.3bn) bridging loan to prevent the…

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    Posted by Jon @ 7:32 pm

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