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Opel unions angry over sale uncertainty


Opel unions angry over sale uncertainty


The idea that General Motors might keep Opel and Vauxhall rather than selling its European division has brought more threats from German unions at the carmaker.

GM has so far failed to decide on either of the bidders Canadian-Austrian car parts maker Magna and Belgium-based investor RHJ International and reportedly may not sell but instead try to raise the money to pay back a 1.5 billion euro bridge loan from the German government. Opel’s senior union leader, Klaus Franz, said they would fight that: “The work force is willing to make substantial contributions to the future of this company, but not if we should return to 100 percent control by General Motors.” The unions want Magna to be chosen to take a majority stake from GM So does the German government, which has to approve the takeover, as it will provide billions in loan guarantees to keep the carmaker going and to finance the major restructuring that is needed.

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