Generalo Motors, which for months has been trying to sell Opel, is reportedly now trying to keep the ailing German brand, a move that would drive a stake in berlin's favoured option: a takeover by Magna.
GM, which emerged from bankruptcy protection last month with the US government owning a majority stake, is trying to develop a US$4.3-billion (Bt146.8-billion) the German government is offering in public financing to supporat a takeover by Canadian auto-parts maker Magna.
It also is roughly in line with the 3.8 billion pound offered by rival bidder, RHJ International.
Accoding to The Wall Street Journal, citing three sources involved in the matter, GM chief executive Fritz Henderson on Friday persented the options to the company's newly formed board of directors in hopes of winning support for the Magna offer.
"The board turned down the Magna deal, these people said, raising questions about how such a sale would affect GM's strategy in Europe, and also voicing concern about specific details related to the German government's financing commitment," the newspaper said.
According to the sources, the management team was asked to rethink its options, and also to prepare more scenarios for consideration, including a plan to raise billions in new financing that would allow GM to keep Opel for itself.
Another option to be considered, "albeit remote," the Journal said, is the potential liquidation of the Opel.
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