GM's Reilly says would cost 3.3 bln euros to fund Opel

23 November 2009 @ 10:28 am EDT

It would cost 3.3 billion euros ($4.9 billion) to rehabilitate struggling German car-maker Opel, the European head of its owner, General Motors, said on Monday.


GM's Reilly says would cost 3.3 bln euros to fund Opel
General Motors Vice President and chief for Operations in Europe Nick Reilly speaks during a news conference at the GM factory in Figueruelas, near Zaragoza, November 19, 2009.U.S. carmaker General Motors will present a new viability plan for Opel in December as it aims to reduce capacity across Europe by about 20 percent, a top executive said on Thursday.
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"Our total financing requirements are around 3.3 billion euros," Opel's interim chief executive Nick Reilly told reporters after a meeting with European economy officials to discuss the matter in Brussels.

((Reporting by John O'Donnell)

($1=.6679 Euro)

Copyright 2009 Thomson Reuters. All rights reserved.

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