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September 9, 2009

OPEL LATEST: Crack appears in government Opel fund position

Germany has yet to decide whether it could offer financial aid for Opel if the company remains with its US parent General Motors, German finance minister Peer Steinbrueck said on Wednesday.

Germany has yet to decide whether it could offer financial aid for Opel if the company remains with its US parent General Motors , German finance minister Peer Steinbrueck said on Wednesday.

“We must wait and see,” Steinbrueck said when asked this question by Reuters in Berlin. It would depend on how much money GM was prepared to put on the table, he added.

“Are they prepared to, are they in a position to, where would they get the money from?” Steinbrueck said.

The comments reflect a softening of the government’s earlier stance that had suggested no funding would be forthcoming unless the GM board agreed to a majority stake sale to a Canada-Russia consortium led by Magna International .

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