GERMANY: Magna, Sberbank, eye majority Opel stake – paper
Magna International and Russian state lender OAO Sberbank are combining to bid for a majority stake in Opel, German newspaper Handelsblatt said on Wednesday, citing unnamed sources.
Magna International and Russian state lender OAO Sberbank combining to bid for a majority stake in Opel, German newspaper Handelsblatt said on Wednesday, citing unnamed sources.
The paper said the two companies had previously eyed a combined stake in the GM Europe unit of up to 50%, but Sberbank now wants to increase its targeted stake from around 30%.
Magna could present its proposal for Opel in Berlin this week, Handelblatt said, citing both government and company sources.
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