August 5, 2009 / 11:10 AM / 8 years ago

GM, Magna narrowed differences on Opel-German politician

FRANKFURT, Aug 5 (Reuters) - General Motors and Magna have narrowed their differences in talks over the Canadian supplier’s bid for carmaker Opel, the Economy Minister of one of the German states which has an Opel plant told Reuters on Wednesday.

Magna MGa.TO is one of the two main bidders for Opel. Its rival is Belgium-based financial investor RHJ International RHJI.BR.

“GM and Magna have moved closer together. A good deal of the critical points have been settled,” Hendrik Hering, Economy Minister for the state of Rhineland-Palatinate, told Reuters.

Germany, which is set to provide state aid to Opel, and GM have to agree on the buyer for Opel. While German politicians have long expressed a preference for Magna, GM has liked RHJ’s offer.

Reporting by Angelika Gruber; via Berlin Newsroom

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