Magna-Opel deal in doubt

By Anne Jolis and Christiaan Hetzner

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

As GM readied for a bankruptcy hearing in the United States, GM Europe said it was talking to other potential buyers for Opel as it worked through snags with preferred bidder Canadian-Austrian auto parts group Magna International (MGa.TO).

The potential buyers include Belgium-based holding company RHJ International (RHJI.BR) and Beijing Auto, a GM Europe spokesman said. Both companies have previously bid for Opel.

The Financial Times reported on Tuesday that RHJ was close to a deal to buy a stake in Opel.

In Germany, Porsche Automobil Holding (PSHG_p.DE) said it would seek alternative ways to finance its debt after state-controlled bank KFW KFW.UL officially rejected a 1.75 billion euro loan application.

Porsche has struggled to get loans to refinance a 9 billion euro debt mountain it ran up in the course of a botched takeover attempt of Europe's largest carmaker Volkswagen (VOWG.DE).

Porsche said on Monday that Qatar had made a written offer to the Porsche and Piech families that control the Porsche automotive holding. Qatar's offer could help the company cut its debt and ultimately clear the way for a merger between Porsche and Volkswagen (VOWG.DE).

Porsche and Volkswagen (VOWG.DE) have been in talks to create an "integrated" automotive group after Porsche's debt burden forced it to drop plans for a full takeover of VW.