The German government will definitely give General Motors unit Adam Opel a requested financial guarantee but may be waiting US decisions on the parent company, a top Opel manager has said.
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The company will be granted the guarantee in April, or maybe as soon as March, the unnamed manager told Financial Times Deutschland.
German politicians have stated said in recent weeks the guarantee was necessary to avoid Opel’s collapse and consequent loss of thousands of jobs.
But it was thought the German government preferred to wait until the US made a firm decision on the bailout of General Motors as that support could influence Opel’s situation.
GM, along with Chrysler, must submit a viability plan to the US government by tomorrow (17 February).
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