GM gives up power to buy back Opel, Saab will get huge bailout

Source: Internet
Author: User
Keywords Reports
Tags business company get media media reports negotiations sources
Xinhua Beijing, July 3, according to the German "business newspaper" (Handelsblatt) quoted General Motors company sources, the company is prepared to give up the option of buying back its European subsidiary, Opel.  This would make Magna Analysys a more advantageous position in the negotiations to buy Opel, the newspaper said. Meanwhile, there are media reports that Saab, a subsidiary of GM, has said it will receive $1 billion trillion in bailout money to keep the company afloat. The report quoted a Saab executive as saying the company expected cash flow to be regularized in 2011.
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