CORRECT: Magna Chairman Says Opel Has A Great Future
May 27 2009 - 3:05PM
Dow Jones News
Magna International Inc. (MGA) founder and Chairman Frank
Stronach said Thursday that General Motors Corp.'s (GM) German Opel
unit could prosper significantly through a deal with the
Austro-Canadian auto supplier.
"We can contribute a lot [to this alliance]," Stronach told
reporters in Berlin ahead of a meeting with the German government,
referring to Magna's technological expertise.
He added that "the workers are most important" for a deal.
Stronach said that Opel could have "a great future".
Opel "has always been somewhat restricted, because they weren't
free," he said, referring to Opel's parent company GM.
Magna is understood to be to the frontrunner in a possible Opel
deal. Other suitors include Italian automaker Fiat SpA (F.MI),
financial investor RHJ International SA (RHJI.BT) and Chinese
automaker Beijing Automotive Industry Corp. (BAIC) which emerged as
a possible fourth bidder.
Company Web site: www.opel.com
-By Christoph Rauwald; Dow Jones Newswires; +49 69 29 725 512;
christoph.rauwald@dowjones.com