UPDATE:Germany's Ruettgers Says Magna,Fiat Improved Opel Bids
28 May 2009 - 5:28AM
Dow Jones News
The governor of the German state of North-Rhine Westphalia,
Juergen Ruettgers, said Wednesday that both Fiat SpA (F.MI) and
Magna International Inc. (MGA) improved their offers for General
Motors Corp.'s (GM) German Adam Opel GmbH unit.
Ruettgers told reporters in Berlin that he doesn't expect a
final decision on a new investor for Opel to made at Wednesday's
meeting in the German chancellery.
"I hope we will get somewhat more clarity today," he said.
"There will be tough negotiations tonight in which not all
questions will be answered," Ruettgers said.
"It became clear in the course of today that the debates we are
conducting with the Americans have made progress. Whether this is
sufficient, we will have to examine," he added.
German chancellor Angela Merkel is currently meeting with
representatives of Opel, Magna, Fiat and RHJ International SA
(RHJI.BT), as well the governors of German states where Opel plants
are located, to discuss the company's options. U.S. government
officials and representatives from Opel's parent GM are also
attending the meeting.
Company Web site: www.opel.com
-By Andrea Thomas, Dow Jones Newswires; +49 (0)30 2888 4126;
andrea.thomas@dowjones.com