GM ready to cede control of Opel as European unit runs short of cash

By John Revill, Automotive News

Geneva. Switzerland — General Motors Europe will run out of money in the second quarter unless European governments come quickly to the company’s aid, COO Fritz Henderson said yesterday. Henderson also said GM is willing to give up majority ownership of Opel, the German brand it has owned since 1929.

“We have to be prepared to consider all options; nothing is off of the table. We have to be open to legitimate interest whether that is majority, minority or sharing,” Henderson said…

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