Financial Times FT.com

Reversal of fortunes sets back Moscow’s plans

By Catherine Belton

Published: November 4 2009 23:30 | Last updated: November 4 2009 23:30

Russia’s bold gambit to build a partnership with Opel and win access to technology vital for transforming its battered car industry lay in tatters on Wednesday.

Vladimir Putin, Russia’s prime minister, said he was “surprised” at the decision by General Motors to hold on to Opel and indicated Russia could still battle for the sale to go ahead. A spokesman said the Russian government had understood a trust charged by GM to manage its European operations had the final say over the deal and not GM.

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