GM won’t sell Opel to an European rival

Well, will they, or won’t they? The rumour mill has been going on about talk that potential buyers are looking to take Opel off General Motors’ hands, Beijing Automotive Industry Holding being one name bandied about.

Now, GM’s CEO Daniel Akerson has assured the head of Opel that the American automaker was not in talks to sell the European arm to a rival, according to reports. German newspaper Handelsblatt had originally reported that Akerson spoke with Opel CEO Karl-Friedrich Stracke on the telephone.

The media has been speculating that GM is considering putting Opel and its UK sister brand Vauxhall up for sale – with Volkswagen and BAIC named as possible buyers – because Akerson is impatient with the slow pace of restructuring at the money-losing division, which lost US$1.6 bil last year. .

GM has so far not commented on the reports, despite calls to do so, but people familiar with the matter have revealed that GM was reviewing options for the European automaker, the reports add. Going with the above, it would seem VW won’t be in the picture should GM decide to sell Opel.

© 2011 Paul Tan's Automotive News. All Rights Reserved.

This story originally appeared on Paul Tan's Automotive News on Wed, 15 Jun 11 04:55:17 +0000.

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