Capitalsys: Opel Winner Close To Being Named.

CapitalSys were told today that General Motors was close to naming the winner of the Opel bid.

Sources told CapitalSys that GM is leaning towards picking Magna as the preferred bidder to purchase Opel Motors.

The GM board is meeting this week to talk about the deal, but CapitalSys sources were unclear if a decision will be made then.

CapitalSys analysts have been observing the deal and it has been clear from the offset that Magna is the German governments choice but GM didnt seem as keen then as they do now.

One of the reasons they maybe keener is of talk that the German government may give some aid to sweeten the transaction. CapitalSys explains that the reason the Germans want GM to choose Magna is that Magna will keep most of the current employees.

If the GMs execs choose Magna then its believed that the Germans will provide an extra $4.5 billion as a cash injection to make the deal happen smoothly.

CapitalSys explains that one of the reasons apart from job losses is that the German elections are coming up and the last thing the current government wants is tens of thousands of job losses.

This has caused some controversy back in Germany as its seen by the opposition that the government are trying to buy their way back into government by using taxpayers money.

by: ArthurFox

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