Union officials and German politicians say they oppose equity group RHJ International taking a majority stake in the General Motors’ Opel/Vauxhall unit.
Belgian-based RHJ International has made a renewed bid for Opel, challenging front-runner Magna International and a third bidder, Beijing Automotive Industrial Corp.
German press reports say increasing numbers of GM top executives, led by product chief Thomas Stevens, favor approving RHJ’s bid with a clause that would allow the U.S. carmaker to buy back Opel in five years.
Klaus Franz, who leads GM’s 55,000 workers in Europe, said: “If GM decides for RHJ, it will be business as usual. That will kill the company.”
Writing on the Web site of GM’s European employees, Franz said Opel’s unions still support a bid by Magna International and its Russian partner, the state lender Sberbank.
Source: Automotive News Europe