Germany and Russia reacted furiously to General Motors’ surprise decision this week to abandon the sale of Opel/Vauxhall to Canada’s Magna and Russia’s Sberbank and set the stage for a fresh confrontation between Germany and GM, over whether Berlin would allow Opel to go bankrupt or step in to support GM financially. GM’s decision also divided its European workers, with UK employees celebrating while Germans said they would start strikes on Thursday over proposed factory closures.

This entry was posted by Gwen Robinson on Thursday, November 5th, 2009 at 4:43 and is filed under Capital markets, M&A. Tagged with gm, magna, Opel, sberbank. Edit this entry.