Germany wants GM answer on Opel
He goes further, saying in a television interview that with offers from Canadian car parts manufacturer Magna and Belgian-based investor RHJ International on the table, it is tme for GM to “give in”.
Given that GM has ignored or resisted all German pressure to dictate terms on the sale of its European arm so far, there’s no reason to think that it will change its stance.
But there are growing suggestions that the U.S. automaker has indeed made up its mind on which option it wants to recommend and that a meeting of the German government-backed trust set up to work through the sale of Opel will take place on September 10.
GM’s board is due to meet next week to discuss the Opel situation, with Magna and RHJ both apparently still in the race despite Berlin’s clear preference for Russian-backed Magna.
Keeping the spice alive, there have been suggestions that GM may now be backing off selling a stake in Opel altogether, with reports that it is trying to pull together state aid from the British, Polish and Spanish goverments.
But Smith’s electronic silence could well mean that the phoney war is over and the real negotiating has now begun.