General Motors is negotiating a sale of Opel with financial investor Ripplewood as well as Magna, Financial Times Deutschland said.
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Ripplewood is interested in buying into GM Europe, whose most important component is Opel, sources close to the negotiations were cited as saying.
Magna and its Russian partners were considered the preferred buyer of troubled Opel, and the German government clearly expressed its preference for the Magna-led consortium, but other bidders are still in the race with Fiat ready to begin talks with GM and Beijing Automotive Industry Corp (BAIC) allowed to examine Opel’s books.
The report said negotiating with alternative candidates could give GM a better position in the negotiations with Magna and noted that insiders have criticised the German government for quickly selecting Magna as the preferred Opel rescuer, putting GM at a disadvantage in the negotiations.
If GM and Magna are unable to reach an agreement or the talks last too long, GM could find a solution with other bidders, company sources told Financial Times Deutschland.
Opel declined to comment.
