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German Government Regrets GM's Decision On Opel

BERLIN -(Dow Jones)- The German government regrets General Motors Co.'s decision not to sell Opel, Chancellor Angela Merkel's spokesman said in a statement Wednesday. In a surprise move, GM's board late Tuesday decided it wants to retain its core European operations after talks over a possible sale dragged on for months. Spokesman Ulrich Wilhelm said Germany expects GM to repay on time EUR1.5 billion in bridge financing meant to keep Opel afloat. That financing is due to expire Nov. 30. The government expects GM to strengthen Opel's viability as a company, he added. Chancellor Angela Merkel has requested economics minister Rainer Bruederle to brief the cabinet on the matter Wednesday, Wilhelm said. -By Patrick McGroarty, Dow Jones Newswires; +49 30 2888 4128; patrick.mcgroarty@dowjones.com

Stock News for Magna (MGA)
DateTimeHeadline
11/25/200915:22:09US EQUITIES WEEK AHEAD: Black Friday; Jobs, Auto Sales Data
11/25/200910:50:10GM Europe Chief: Antwerp Future Uncertain, Will Assess Options
11/25/200904:26:23GM Opel's Reilly Says Ruesselsheim Plant Of Great Importance
11/13/200910:47:07GM Pays Back Another EUR200 Million From Opel Bridge Financing
11/11/200912:48:20German Econ Minister: GM's Smith, Reilly Met Berlin Officials
11/11/200905:20:22Magna, GM In Talks On Reimbursing Costs For Opel Revamp Plan
11/10/200911:40:11GM CEO: Opel, Vauxhall To Become More Independent Within Co
11/10/200910:02:03GM: Reilly To Head Opel, Vauxhall Operations
11/10/200909:08:03Opel Labor Chief: GM CEO Agreed To Grant Co Partial Autonomy
11/10/200908:53:05GM Plans To Pay Back Opel Bridge Loan Before Nov. 30
11/10/200907:17:11GM's Reilly To Oversee Restructuring Of European Unit- Source
11/06/200913:58:34GM: Forster To Leave Co; External Search For New Europe CEO
11/06/200906:44:08German Government: GM Signals Opel To Present Plan Next Week
11/05/200915:55:45German Governor: GM Must Keep Open All Opel Plants In Germany
11/05/200914:25:07Germany's Ruettgers: Opel Aid Hinges Upon 'Long-Term' Prospects
11/05/200910:54:10German Finance Min: To Talk With Geithner About Opel At G20
11/05/200909:40:12GM Plans New Opel Management Changes Soon - CEO
11/05/200909:10:04Germany: Merkel Told Obama Germany Wants GM Plan Soon
11/05/200908:17:12Russia Will Support GM Operations, Other Auto Makers - Report
11/04/200915:07:47Opel Future In Limbo As GM Prepares New Turnaround Attempt

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