Detroit --
Shock in the poker at Opel: The U.S. carmaker General Motors (GM) has officially called off the sale of its German subsidiary Opel.
That's what the GM Board of Directors decided, the group announced on Tuesday evening (local time) with in Detroit. Originally, the Austrian Canadian supplier Magna should take over the majority.
But GM has other plans: The US-parent company wants to redevelop the Europe business around Opel now provide among other things, and even the German government a plan for it. The cost of restructuring chief Fritz Henderson, GM estimated at three billion euros.
In September, the Panel had recommended the sale of 55 percent of Opel's share of the auto supplier Magna and its partner Sberbank. The EU Commission had voiced reservations and GM to reconsider the decision.
Even after the initial recommendation for Magna as the GM Board was divided. Some members wanted to keep Opel, because both producers are dependent on each other: Opel alone was too small to survive, and GM Opel needed because of modern technology, the Germans and their access to European markets. Now this access was also decisive for the change in mood at GM on Tuesday.
In the bidding war for months to have the Federal Government and Opel Opel works council always supported an entry Magna. They rated the concept of Canadian-Austrian supplier as the only Viable to lead the ailing car maker into a successful future.
Magna Berlin had agreed to 4.5 billion euros state aid. The works council refuses to remain at GM Opel vehemently. He fears a radical downsizing and announced massive protests.
Hesse Premier Roland Koch (CDU), was "very concerned and also angry" about the decision of the U.S. car maker. "Given the negative experiences of recent years with the company policy of GM, I am very worried about the future of the company and its jobs," Koch said on Tuesday evening, according to a widespread opinion.
Said that he expected GM to bridge the loan on time at 30 November repay, "so that the German taxpayer is not damaged." The federal government initially said no.
