FRANKFURT - New solar installations reached a fresh record of 7.5 gigawatts (GW) in Germany in 2011, playing into the hands of advocates for steeper cuts in tariff subsidies to reduce growth of solar power and the resulting higher costs for consumers.
GM, Magna to close Opel sale by mid-September: union
FRANKFURT (Reuters) - General Motors GMGMQ.PK and Magna MGa.TO hope to close the sale of a majority stake in GM's Opel by the middle of September, ahead of Germany's general elections, an Opel supervisory board member told Reuters on Friday.
"There should be a contract ready by July 15 between GM and Magna...by mid-September there should be a closing," said Rainer Einenkel, the senior labor leader at Opel's Bochum plant.
The comments came following a meeting of Opel's supervisory board, in which Einenkel has a seat along with several other representatives of the carmaker's workforce.
Separately, Fiat (FIA.MI) Chief Executive Sergio Marchionne said on Friday that he remained interested in a possible acquisition of Opel, since he heard that talks between GM and Magna were "not going very well."
Opel and Magna declined comment.
A source close to the negotiations refuted Marchionne's comments.
"It's accurate to say that there is more than an 80 percent chance for a deal to be reached (between GM and Magna)," the person said.
(Reporting by Angelika Gruber and Christiaan Hetzner)
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