By the summer’s end Opel will be a Canadian-Russian concern says Magna’s joint boss Seigfred Wolf.
Speaking to General Motors bosses, and Opel workers and Union representatives in Opel headquarters in Frankfurt he announced he wants the deal closed by September. “The bridge financing, one of the most important prerequisites for the deal has been achieved. And now we just need to get our act together, work hard and clear the remaining paths,” said Wolf. But the German government reportedly claimed it was still open to a rival Fiat-Chinese offer after talks on Tuesday with Beijing Automotive Industry, despite GM’s signing on the dotted line with Magma and Russia’s Sberbank.