Three final bids for Opel

General Motors has received three final bids for its struggling Opel business, which includes Vauxhall in the UK.

Canadian car parts maker Magna, Belgian-based investor RHJ International and China’s Beijing Automotive Industries are the bidders.

Magna, backed by Russia’s Sberbank, has made a last-minute change to its bid in order to placate concerns about its Russian partner’s influence.

It remains the favourite to buy a majority stake in Opel.

“General Motors confirms that it has received final offers for a stake in Opel/Vauxhall from three bidders. The final bids will now be analysed and compared by GM,” GM said in a statement.

Source: BBC News