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GM board pushes back Opel Sale

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GM board pushes back Opel sale

The new General Motors board of directors didn’t make its first major decision: It did not give any favor to either of Opel’s two bidders, Canada’s Magna International or Belgium’s RHJ International. Last night, GM’s board had been expected to choose one of the two bidders, but no recommendation was made.

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I guess GM decided to use some of the bailout money to keep Opel afloat. Regardless, this is a good news. If GM can borrow time for Opel, it would give Opel time to let the new models like Insignia, Astra, Meriva and the Captiva to create a sales surge and take itself out of the dumps.

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