Financial Times FT.com

GM resists pressure for hasty Magna deal

By John Reed in London and Daniel Schaefer in Frankfurt

Published: August 4 2009 22:08 | Last updated: August 4 2009 22:08

General Motors’ sale of Opel, already running behind schedule, is likely to take several more weeks to conclude because of continuing disagreements with Magna International, the bidder favoured by most of Germany’s political establishment.

GM and Magna are again meeting this week in an effort to work out deep remaining differences over the carmaker’s Russian business and future access to its global intellectual property for Magna, and its Russian bidding partner, Sberbank.

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