View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
September 16, 2009

GERMANY: Magna managing on German money

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

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.

Topics in this article: , ,
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Auto