General Motors advisers are telling the board to retain Opel and become bigger presence in Europe and Russia, reports Bloomberg. They suggest the company seek aid from other European governments to retain ownership of Opel as opposed to surrendering control to Canada’s Magna International or Brussel’s RHJ International SA. GM’s new board is comprised largely of choices by the Obama administration made after the company was forced to file for bankruptcy. German Chancellor Angel Merkel is earnestly awaiting a quick resolution. “Every day counts for workers and for the economic situation” of Opel, Merkel said in a written summary of an interview with ZDF television. “I’m hoping that we can make progress in the new week.” GM’s new 13-member board held meetings on August 4 and August 21 without an Opel decision. The next board meeting is not until September.
Advisers to GM Board: Keep Opel
Advisers urge General Motor’s board to retain Opel and strengthen the company’s presence in Europe and Russia.
August 24, 2009