Fiat and Magna emerge as serious bidders for Opel
 

<p>Filed under: <a href="http://www.autoblog.com/category/euro/" rel="tag">Euro</a>, <a href="http://www.autoblog.com/category/government-legal/" rel="tag">Government/Legal</a>, <a href="http://www.autoblog.com/category/hirings-firings/" rel="tag">Hirings/Firings/Layoffs</a>, <a href="http://www.autoblog.com/category/earnings-financials/" rel="tag">Earnings/Financials</a>, <a href="http://www.autoblog.com/category/opel/" rel="tag">Opel</a>, <a href="http://www.autoblog.com/category/fiat/" rel="tag">FIAT</a></p><a href="http://europe.autonews.com/apps/pbcs.dll/article?AID=/20090428/ANE02/904289984/-1"><img vspace="4" hspace="4" border="0" alt="" src="http://www.blogcdn.com/www.autoblog.com/media/2009/04/opel_fiat_magna.jpg" /></a><br /><br />General Motors is looking for outside investment into German automaker Opel, and new reports coming out of Europe indicate that two main bidders have separated from the rest of the pack: Fiat, which we've <a href="http://www.autoblog.com/2009/04/23/despite-denial-of-fiat-opel-tie-up-critics-say-alliance-would-b/">already heard about</a>, and Magna International. Oleg Deripaska, a <a href="http://www.autoblog.com/supersearch/?q=Deripaska&sort=date">f amiliar name</a> to those who follow the auto industry closely, is said to have aligned himself with Magna in an attempt to acquire a 50% stake in Opel.<br /><br />Fiat chairman Luca de Montezemolo <a href="http://www.autoblog.com/2009/04/21/rumormill-fiat-could-step-in-for-gm-in-europe-latin-america/">has denied that his company is interested</a> in purchasing General Motors' Opel brand, but reports from a number of reputable sources, <a href="http://www.autoblog.com/2009/04/27/clash-of-the-titans-fiat-squares-off-with-european-union-over-m/">including</a> Fiat's own CEO Sergio Marchionne, indicate otherwise.<br /><br />GM is said to favor a single bidder, which may improve Fiat's chances somewhat. Union officials and policymakers in Germany, on the other hand, have voiced concerns over the Italian automaker's plans, saying they <a href="http://www.autonews.com/article/20090424/ANE02/304249959">welcome the alternative plan</a> from Magna. It should be interesting to see how this all plays out in the coming weeks.<br /><br />[Source: <a href="http://europe.autonews.com/apps/pbcs.dll/article?AID=/20090428/ANE02/904289984/-1">Automotive News</a> - sub. req'd]<p style="padding:5px;backgr ound:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.autoblog.com/2009/04/28/fiat-and-magna-emerge-as-serious-bidders-for-opel/">Fiat and Magna emerge as serious bidders for Opel</a> originally appeared on <a href="http://www.autoblog.com">Autoblo g</a> on Tue, 28 Apr 2009 18:26:00 EST. Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href=http://europe.autonews.com/apps/pbcs.dll/article?AID=/20090428/ANE02/904289984/-1>Read</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/2009/04/28/fiat-and-magna-emerge-as-serious-bidders-for-opel/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/forward/1530523/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/2009/04/28/fiat-and-magna-emerge-as-serious-bidders-for-opel/#comments" title="View reader comments on this entry">Comments</a>

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