GM, Opel seeking other offers: report

0 Comments | AFP, June, 2009

FRANKFURT (AFP) — Struggling US auto giant General Motors and German arm Opel are holding talks with several potential buyers, including the Chinese group BAIC, for the the unit, a report has said.

Other offers, beside one submitted from Russian-backed Canadian company Magna, are welcome, the head of a trust company which is managing Opel, Fred Irwin, told the German business daily Handelsblatt.

A delegation from BAIC (Beijing Automotive Industry Corporation) is to meet Opel managers this week and has been granted access to its accounts, as has the investment fund Ripplewood -- a former bidder, the newspaper said.

"All interested parties have the same information rights," Irwin said.

He added that a letter of intent signed last month with Magna, which...