Britain questions viability of Opel plan

Article reports that the United Kingdom has questioned the viability of Magna International’s plan to buy Opel in a letter sent on the 22 September 2009 to European Competition Commissioner Neelie Kroes in a fresh challenge to the politically charged sale of General Motors’ European arm.

Lord Mandelson, Britain’s business secretary, said that the Canadian company’s restructuring blueprint was too expensive and too punitive of productive plants, and susceptible to 'political intervention'.

Deutsche Welle, 24.9.09: Germany defends Opel rescue plan at EU ministers' meeting http://www.dw-world.de/dw/article/0,,4721321,00.html

BBC News, 24.9.09: UK queries Magna's Vauxhall plan http://news.bbc.co.uk/1/hi/business/8272382.stm

European Commission: MEMO/09/411: State aid: Commission statement on aid for Opel Europe http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/09/411&format=DOC&aged=0&language=EN&guiLanguage=en

ESO: Background Information: UK raises 'subsidy war' fear over Opel http://www.europeansources.info/record/uk-raises-subsidy-war-fear-over-opel/

ESO: Background information: Merkel says government’s ‘patience’ paid off http://www.europeansources.info/record/merkel-says-governments-patience-paid-off/

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