Financial Times FT.com

GM receives three bids for Opel

By John Reed, Motor Industry Correspondent

Published: July 20 2009 18:36 | Last updated: July 20 2009 18:36

General Motors said on Monday that it had received three final bids for its European business in time for an end-Monday deadline.

Magna International and Sberbank entered bids alongside RHJ International and China’s Beijing Automotive Industry Holding Co for a controlling stake in Opel/ Vauxhall, which GM is selling to raise billions of euros of European government rescue funds.

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