German Vice Chancellor:Sees Deal On Opel Bridge Financing Wed
May 27 2009 - 12:32PM
Dow Jones News
Talks over the future of General Motors Corp.'s (GM) Adam Opel
GmbH unit Wednesday will end in a bridge financing agreement for
the German unit, German Vice-chancellor and Foreign Minister
Frank-Walter Steinmeier said Wednesday.
His comments come with General Motors at risk of filing for
insolvency in the coming days and with the German government aiming
to keep Opel afloat to allow more time for talks with potential
investors.
"I am certain that we will wrap up tonight the state-backed
bridge financing, this is necessary, Opel needs this air to
breathe," Steinmeier told reporters.
Chancellor Angela Merkel, key cabinet ministers, governors of
the German states with Opel plants, representatives from GM and the
U.S. Treasury and the bidders for Opel are meeting in the
chancellery Wednesday.
-By Andrea Thomas, Dow Jones Newswires; +49 (0)30 2888 4126;
andrea.thomas@dowjones.com