Germany's Ruettgers: Opel Aid Hinges Upon 'Long-Term' Prospects

Date : 11/05/2009 @ 2:25PM
Source : Dow Jones News
Stock : GM (GM)
Quote : 0.75  0.0 (0.00%) @ 12:00PM
<< BackQuote Chart Financials

 



Germany's Ruettgers: Opel Aid Hinges Upon 'Long-Term' Prospects

FRANKFURT -(Dow Jones)- Juergen Ruettgers, state premier of the German state of North Rhine-Westphalia, said Thursday that any aid for car maker Adam Opel GmbH, a unit of General Motors Co., would hinge upon the company's "long-term prospects."

Ruettgers and other governors from states with Opel factories met with German Economics Minister Rainer Bruederle in Berlin Thursday evening to discuss GM's decision to keep Opel.

The state premier of Hesse, Roland Koch, said Germany's prior help with state aid gives the country a say in the car maker's future. "We saved Opel with state aid," he said.

GM's board decided late Tuesday to retain Opel and its sister U.K. brand, Vauxhall, rather then sell them to Magna, a Canadian auto supplier, and its Russian partner, OAO Sberbank (SBER.RS).

The decision, an abrupt shift after months of negotiations focused on the Magna deal, surprised and infuriated German politicians.

-By Patrick McGroarty , Dow Jones Newswires; +49 69 29725 500; djnews.frankfurt@dowjones.com

 
 

<< Back


GM Historical Chart GM Intraday Chart  
Period


LSE and PLUS quotes are live. NYSE and AMEX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions :: Contact Us :: Request an Exchange :: Affiliate Scheme
Copyright1999-2009 ADVFN PLC. Copyright and limited reproduction :: Privacy Policy :: Investment Warning :: Advertise with us :: Data accreditations :: Investor Relations :: Press office :: Jobs
ADDITIONAL SERVICES AVAILABLE FROM ADVFN
Upgrade - Click here for more information on ADVFN premium services Money Words - ADVFN Financial Glossary Investor Training ADVFN Financial Bookshop Online Training Academy
42 site:2us 091124 12:00 Stock Message Boards ( 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 )