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Frank Stronach's dream of becoming a leading world automaker died Tuesday when the board of General Motors Co. reversed itself and decided not to sell control of its European division, centred on the Opel and Vauxhall brands, to a consortium led by... Full Article at Toronto Star
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ByJohn D. Stoll,Sharon Terlep AndChristoph Rauwald In a dramatic change of course, General Motors Co. backed out of a deal to sell the company's European operations to car-parts supplier Magna International Inc. , and now plans to spend billions to... Full Article at Wall Street Journal
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* GM board opts to keep Opel European operations * Decision marks sharp reversal from plan to sell to Magna * Germany says regrets GM move, wants its money back * GM says restructuring Opel to cost about 3 bln euros DETROIT/FRANKFURT (Reuters) -... Full Article at CNN/Money
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DETROIT — The new board of General Motors reversed course Tuesday on the planned sale of its Opel division in Europe and decided that GM would retain and reorganize the business itself. Full Article at The Seattle Times
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Frank Stronach's vision of turning his Magna International Inc. Full Article at Globe and Mail
Related Quotes
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We've valued our relationship with GM for more than 50 years ... While we were disappointed in hearing the news yesterday, we also respect the decision that the board made.
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It loses money and is extremely high-cost poduction in Germany, but if you write off Opel, you also [write off] Vauxhall in the U.K., and therefore the whole European market
– Dennis Keene SOURCE: Popular Mechanics
