Magna can get by on the EUR 4.5bn aid pledged by the German government.

Company deputy CEO Siegfried Wolf made the comment to Financial Times Deutschland after a meeting at which Germany failed to persuade European countries with Opel plants to support financially the European GM unit’s car maker’s planned sale.

Germany wants to share the burden of the guarantees with fellow EU states but Belgium and Spain are reluctant to help as they fear job cuts at their Opel plants in Antwerp and Zaragoza.

Germany has already provided a EUR1.5bn loan to keep Opel going for now.