• From The BBC:

    US carmaker General Motors could be set to reverse its decision to sell its struggling European car firm Opel, according to media reports.Last week, the German government said it would lend Opel 4.5bn euros ($6.4bn; £3.9bn) if its favoured suitor, Magna, was chosen to take it over. The bid from the Canadian car parts maker is backed by Russia’s Sberbank. But reports in the UK and US say GM is trying to raise rescue funds for Opel from the US and European governments. At the weekend, GM postponed making a decision on who should buy the Opel division, which includes Vauxhall in the UK. As well as Magna, Belgian financial group RHJ has also been a suitor of Opel. However, Magna has publicly promised to cut fewer jobs in Germany, where 25,000 people are currently employed in the division. The German government said GM’s chief negotiator, John Smith, was due to have talks with deputy economy minister Jochen Homann and other members of the government’s “Opel task force” in Berlin on Tu…

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    Posted by Jon @ 1:42 pm

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