GM sure on funding Opel revamp

Article reports General Motors as saying on the 5 November 2009 it could finance the restructuring of Opel without state aid, as its chief executive said the European carmaker had enough cash to pay back a government bridge loan.

His comments came two days after GM's board decided to keep the Opel unit and its Vauxhall arm in the UK. The move sparked furious reactions from Opel's workforce and the German and Russian governments, which had all backed a plan to sell the carmaker to Canada's Magna International and Russia's Sberbank.

ESO: Background information: Anger over GM’s Opel U-turn http://www.europeansources.info/record/anger-over-gms-opel-u-turn/

ESO: Background information: Scrapping old cars boosts German sales http://www.europeansources.info/record/scrapping-old-cars-boosts-german-sales/

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