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The Germans and GM seek Opel rescue plan

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The Germans and GM seek Opel rescue plan

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German Economy Minister Karl-Theodor zu Guttenberg claims struggling US car giant General Motors appears willing to help save its Opel subsidiary.

Guttenberg has held talks with GM chief Rick Waggoner After weeks of uncertainty it now appears that constructive cooperation will go ahead once a plan is drawn up that suits both parties. Its been agreed that a coordinator will be appointed to harmonise the rescue efforts. The Germans claim its essential that GM finds a private investor and indicated one escape route could see GM take a minority stake in Opel. Opel has factories in four German states employing as many as 50,000 people. However, though willing to help the carmaker the German state is determined that no tax payers money makes its way across the Atlantic to GM, which has already gone cap in hand to the US government.