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D-day for GM Europe

The German government will meet later on today (Wednesday 27th May) to decide which of the four bidders for General Motors Europe it will back with loan guarantees.

Owner General Motors will have the final say, but the German government’s backing is crucial, as GM would struggle to find a buyer without it.

Berlin’s choice will have implications for Opel and Vauxhall workers.

The future of GM in the US is also in doubt as bondholders have yet to reach agreement over a debt-for-equity swap. Full story…

May 27, 2009In51der
  • 10,500 jobs could go at GM Europe
  • GM Europe takeover must not favour German workers
  • Magna gets GM Europe
  • The fate of GM Europe is at hand
  • Magna ‘agrees to buy GM Europe’
  • US could take majority stake in General Motors
  • Buyers say Nano to the poverty modelGeneral Motors bondholders reject restructuring plan
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