GERMANY: Opel talks could drag on
- More meetings today but no details out yet
- Talks could drag on for weeks
General Motors and the German government started new talks today (4 August) to try and decide on the successful bidder for Opel.
Magna and financial investor RHJ are left in the race, having been told by a regional government official at the weekend they needed to improve their bids, and GM's chief negotiator told Reuters ahead of meetings the two sides would reach no decisions today.
"If you're asking me to select one bidder, no," John Smith said. The two sides were meeting representatives from Magna and RHJ separately.
Germany prefers the Magna offer but GM likes RHJ's bid.
Reuters said there were signs the talks might drag on for weeks as GM said earlier it needed more time to negotiate with the two bidders.