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Germany delays decision on aid for Opel

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Germany delays decision on aid for Opel

Associated Press

Berlin -- Germany has delayed until next week final consideration of a request for government aid for General Motors Co.'s Opel unit.

Opel wants loan guarantees totaling more than $1.2 billion from Germany, where it has four plants.

A committee that examines requests for aid from a fund for companies hit by the economic crisis had been tentatively expected to meet today. But Economy Ministry spokeswoman Beatrix Brodkorb said the meeting has been delayed until next week for scheduling reasons.

Once the committee has considered the bid, it goes to Economy Minister Rainer Bruederle for a decision.

Bruederle -- who has been skeptical about aid -- said earlier this week that experts held a "very critical" view of its economic merits.

From The Detroit News: http://detnews.com/article/20100604/AUTO01/6040398/1148/auto01/Germany-delays-decision-on-aid-for-Opel#ixzz0ptIQlwVx

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