Financial Times FT.com

GM seeks alternative Opel bids as Magna negotiations hit obstacles

By John Reed in London and Daniel Schäfer in Frankfurt

Published: June 30 2009 03:00 | Last updated: June 30 2009 03:00

General Motorshas stepped up negotiations with rival suitors to offload a stake in Opel, its European carmaking business, and could sign at least one memorandum of understanding this week as talks with Magna International, the preferred bidder, have hit obstacles.OpelMagna International

RHJ International, the Belgium-based industrial holding company interested in Opel, had improved its earlier bid and GM was "taking it very seriously", said a person close to the sale process yesterday, who added that a memorandum could be signed within days.

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