Vauxhall decision due
August 20th, 2009 by Richard Aucock
VAUXHALL may discover who its new owner is today, as reports emerge that GM is nearing a decision.
Industry sources are buzzing with speculation that the GM Board will meet on Friday 21 August, to finalise which of the two front-runners – Magna and RGA – will get the nod of approval.
While Magna was previously the firm favourite, it’s now less certain to get approval to buy Vauxhall and Opel. Belgium-based RHJ is the preferred choice by many EU countries, as its offer is more balanced.
The Magna deal guarantees fewer job cuts in Germany, but fewer assurances are offered for GM’s other European factories.
We’ll be monitoring the wires, and bringing you the news as and when (and, indeed, if?) it breaks…
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