The German government is examining competing plans to invest in
carmaker Opel and aims to decide by the end of the month whether to
provide the firm with financing guarantees, a leading Social Democrat
Italian carmaker Fiat
government is comparing the two concepts in order to make a decision on
the required billions of euros in guarantees by the end of May, Peter
Struck, parliamentary leader for the SPD, told the BZ newspaper.
The SPD is junior partner to Chancellor Angela Merkel's conservatives in Berlin's uneasy grand coalition.
Sovereign wealth funds based in Abu Dhabi have also been rumored to have an interest in Opel.
United Arab Emirates Economy Minister Sultan bin Saeed al-Mansouri
denied after talks with visiting German Economy Minister Karl-Theodor
zu Guttenberg that there were any plans to invest in the
Guttenberg told reporters on the
trip that Germany was preparing for the possibility that Opel's U.S.
parent could be forced into bankruptcy early next month.
that in the event of a GM bankruptcy, Opel assets could be handed over
to a trustee who would ensure the interests of creditors.
Guttenberg described this as a precondition for Germany providing financing guarantees.
I want to protect German taxpayers from investing in an uncertain
future for Opel and ending up caught in a game between GM and possible
investors, Guttenberg said.
Separately, Russian Prime Minister
Vladimir Putin was quoted as saying in an interview with Japanese media
that Magna had asked Russian financial institutions and debt-laden
are commercial questions. Everything needs to be carefully calculated,
Putin said. The Russian government is attentively following what is