• From The BBC:

    The board of US carmaker General Motors has postponed making a decision on who should buy its Opel division, which includes Vauxhall in the UK.The Detroit-based firm said directors had met on Friday to discuss the options but “no decision was taken”. An assessment on whether to start exclusive talks to buy German-based Opel had been expected at the weekend. The race to control Opel is between the Canadian component manufacturer Magna and Belgian financial group RHJ. The BBC understands that a number of stumbling blocks have emerged to delay the final decision. The German government – which has openly preferred the bid from Magna and has offered it bridging finance of 4.5bn euros ($6.4bn, £3.9bn) – is thought to have added further conditions to that support. Magna has publicly promised to cut fewer jobs in Germany, where 25,000 people are currently employed in the division. Buy-back optionGermany’s economy minister said he regretted the failure to make a decision. Karl-Theodor zu…

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    Posted by Jon @ 2:15 pm

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