Russia’s Sberbank is reportedly considering suing GM for abruptly cancelling its plans to sell Opel to a Magna-led consortium of which it was part.
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Germany’ Handelsblatt newspaper said that a contemplated legal action by Sberbank will not be jointly undertaken with partner Magna.
Sberbank is in negotiations with GM and hopes to settle the matter out of court, the CEO of Russia’s largest bank, German Gref, said.
However, if need be, Sberbank will defend its position in court, he was cited by news agency Interfax.
GM has not explained the U-turn in its plans plausibly, Gref added.
