GM focused on closing Opel deal: FT
LONDON: General Motors remains focused on the sale of its loss-making European unit Opel despite EU concerns about the deal, the Financial Times reported Tuesday.
"We've had a number of exhaustive discussions with our board on the deal, the rationale for it, and the need to support the Magna transaction," GM chief executive Fritz Henderson told the financial daily.
"If facts fundamentally change, we would go back and consult with our board. But right now, we're spending all of our time trying to get the Magna deal closed."
European regulators raised concerns on Friday over a German offer of 4.5 billion euros (6.7 billion dollars) in state aid to support the proposed sale of a 55-percent stake in Opel to Canada's Magna and Russian lender Sberbank.
But Berlin said there was no need to go over the decision again.
Henderson told the FT: "The German government is in dialogue with the EU, and that's kind of in their job responsibility code, if you will."