Opel chairman Nick Reilly is urging observers to “look at the facts” concerning rumours parent GM could put its European division up for sale.

The speculation comes as Opel seeks to book a much-improved performance and recently posted a profit in Europe for the first quarter. The automaker also increased market share for the seventh month in a row on a year-on-year basis.

“The [supervisory board] statement explained why GM as a relatively new come-back to the Stock Exchange, there are some very strict rules about speculation and if you do you have to go into huge justification,” Reilly told just-auto. “So our policy with what is press speculation, we don’t comment.

“GM did say officially at the supervisory board [it] is very happy with the turnaround of Opel/Vauxhall. We are ahead of the game – just look at the facts and look at what GM is saying.”

Reilly added Opel’s Works Council had supported the statement issued by the supervisory board, but a spokesman for the labour body told just-auto last week it had asked GM for clarification regarding the potential sale rumours.

German reports indicated GM CEO Dan Akerson had said to Opel there were no discussions to sell.