The German government is still talking to potential investors in Opel other than Magna International, Economy Minister Karl-Theodor zu Guttenberg said at a press conference in Berlin with UK Business Secretary Peter Mandelson.
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Guttenberg said that although a preliminary agreement had been reached with Magna, nothing had been finalised and rival suitors could not be ruled out.
“We are still in contact with other investors,” said Guttenberg. These included Chinese automaker BAIC, he said, adding that he thought Fiat still had its eye on Opel.
Roland Berger, a well-known German consultant who sits on Fiat’s board of directors and who had been tasked by GM to help find an investor for Opel, said in an Italian newspaper interview on Thursday Fiat could still be in the running for Opel.
“Fiat’s industrial plan is the best and most attractive plan because it would have created a global group with pan-European roots that would be very strong,” he told Corriere della Sera. “This is not the last word.”
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By GlobalDataMandelson confirmed Britain was prepared to offer financial support for the plan to rescue Opel, which includes UK unit Vauxhall, although he did not give any details.
“We have to be satisfied not only with the viability of the company going forward, we also have to be satisfied … that what is finally agreed offers value for money to the British taxpayer,” he said.
Vauxhall employs 5,000 workers at plants in Luton, north of London, and Ellesmere Port in northwest England.
British unions have accused their government of allowing the fate of General Motors’ European operations to be decided in Germany and of not doing enough to protect nearly British jobs.
The German minister has also said he was in bid talks with an unnamed Chinese investor who had approached him in the last two weeks.
Magna has said that its bid to buy GM Europe was conditional on due diligence of both Opel and Vauxhall. It was understood to have started the due diligence process this week.
