Sberbank, one of Magna’s partners in in its consortium bidding for Opel/Vauxhall has said that a July 15 deadline to seal a deal for the carmaker is ‘not firm’.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
“Right now there is new information every day about the talks. They are intensive talks and I would not be bound by a July 15 deadline,” Chief Financial Officer Anton Karamzin told a conference call, according to Reuters.
“There are a lot of sides in this process and we can expect news every day.”
Wednesday July 15 is the deadline imposed by the German government for revised bids for Vauxhall/Opel, which is being courted by Magna/Sberbank, RHJ International and Chinese carmaker BAIC. Fiat was an early potential bidder, too.
Sources have told just-auto that RHJ International is emerging as a strong contender in the face of obstacles to Magna’s bid concerning technology access and future sales territories.
