Financial Times FT.com

Magna feels the heat over Opel plans

By Daniel Schäfer in Frankfurt and Bernard Simon in Toronto

Published: September 15 2009 20:09 | Last updated: September 16 2009 11:11

Magna’s plans to take a majority stake in GM’s loss-making European arm Opel triggered a backlash on Tuesday when German carmakers Volkswagen and BMW voiced unease over the deal and warned that they would review links with the Canadian car parts supplier.

Ferdinand Piëch, VW chairman, said that Europe’s largest carmaker would consider shifting business to other car parts makers after GM decided last week to sell a 55 per cent stake in Opel to Magna and Russia’s Sberbank.

Unveiling of the Trabant car at the Frankfurt motor show

Trade talk: the new version of the legendary East German Trabant car is unveiled at the Frankfurt motor show

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