The German government has settled on Canada’s Magna as the winner in the bidding for Opel (GM’s European presence, including Britain’s Vauxhall):
Earlier, there had been rumours that GM could be planning to try to keep control of its European arm.
Magna was the German government’s preferred bidder. The decision must be approved by the Opel Trust, which is due to hold a press conference shortly.
Magna has pledged to keep all German plants open.
“I am very pleased about the decision that’s been made and it is along the lines that the federal government has been advocating,” Chancellor Merkel said.
“But it’s also along the lines that the employers and the employees of Opel wanted.”
