BBC Business News reports that German Chancellor Angela Merkel has met Fiat boss Sergio Marchionne to discuss his firm’s bid to buy Opel from GM. Her government is also considering a Russian-backed bid from Canada’s Magna and one from Brussels-based RHJ, backed by US private equity firm Ripplewood.
It is reported to be holding a meeting on Wednesday evening, after which it will announce a preferred bidder.
The government is being asked to give loan guarantees to the winning bidder, so it has a big say in the process.
A Fiat spokesman said that Mr Marchionne and Ms Merkel had discussed the bid for an hour.
The RHJ and Magna consortia are expected to meet employee representatives from Opel on Tuesday to explain their plans.
As it is a German election year, the German government is likely to favour offers that limit the number of job cuts. Full story…