Sign up to The Irish Times Archive (1859 - 2008)My Account »
Fri 09 Sep 200910,000 job cuts expected as GM sells Opel to Canadian car parts firm
CANADIAN CAR parts company Magna reacted cautiously yesterday to news that General Motors (GM) had accepted its offer to buy Opel.
The deal, announced in Berlin yesterday, will see 55 per cent of Opel sold to Magna and its Russian partner, the Kremlin-controlled Sberbank. Employees will receive a 10 per cent stake and the remaining 35 per cent will remain with GM in Detroit.
Choose a Subscription type - required
