Magna-Opel deal in doubt

By Anne Jolis and Christiaan Hetzner

BRUSSELS/FRANKFURT (Reuters) - Efforts to save two leading European carmakers took a twist on Tuesday that could change the ownership of both crisis-hit General Motors' Opel and German sportscar maker Porsche.

As GM GMGMQ.PK readied for bankruptcy, the Financial Times reported Belgium-based holding company RHJ International (RHJI.BR), a former bidder for Opel, was back in the running and close to a deal that would strand Canadian-Austrian auto parts group Magna International (MGa.TO).

Elsewhere, Qatar made an offer to the Porsche and Piech families that control the Porsche SE automotive holding that could help cut its debt mountain.

Porsche (PSHG_p.DE) and Volkswagen (VOWG.DE) have been in talks to create an "integrated" automotive group after Porsche's 9 billion euro debt burden forced it to drop plans for a full takeover of VW. But progress towards creating a combined company stalled after Porsche chief execuitve Wendelin Wiedeking sought investment from Qatar's sovereign wealth fund.

RHJ-OPEL DEAL CLOSE?

The FT reported GM was close to a deal with RHJ to sell a stake in Opel, and a memorandum of understanding could be signed within days.

Talks on a stake in Opel between its parent, GM, and Magna -- going on since Magna clinched an agreement just before GM's bankruptcy filing in May, pipping Fiat (FIA.MI) to the post at the time -- have hit snags, the paper said.

RHJ was named as a potential Opel buyer in media reports but never confirmed or denied it had made an initial bid let alone a second, improved one. But according to the Financial Times, RHJ has improved an earlier bid and is being taken "very seriously" by GM and a memorandum of understanding could be signed in days.