Germany and Russia are “working together for the future of Opel” the carmaker, Chancellor Angela Merkel said Thursday after she met with Russian President Dmitry Medvedev in Munich.
“Magna offers Opel a chance,” Merkel added in reference to the Canadian parts maker that has offered to buy Opel with the help of the Russian bank Sberbank.
Their bid presents “excellent departure points,” even though there were still “many things to clear up,” she said.
Medvedev said he “would do everything to complete the project.”
Magna and Opel’s US parent company General Motors signed a non-binding letter of intention in May overseen by German officials who are to back the deal with large amounts of aid in a bid to save 25,000 German jobs.
Talks got bogged down however, and GM — which has just emerged from bankruptcy in the United States — is now also speaking with the Brussels-based investment group RHJ International.
Chinese automaker BAIC is also holding discussions with GM, but German officials have made it clear that if someone other than Magna gets Opel, Berlin might withdraw its offer of state aid.
