UPDATE: German Econ Min: US Must Be More Cooperative On Opel
May 28 2009 - 5:31AM
Dow Jones News
U.S. officials must show greater cooperation and seriousness in
the debate about the future of General Motors Corp.'s (GM) Adam
Opel GmbH unit, German Economics Minister Karl-Theodor zu
Guttenberg said Thursday.
"What happened overnight in part borders on the absurd," he told
reporters on his way to a budget committee meeting.
"I would hope for more seriousness and willingness to compromise
from the U.S. side," Guttenberg said.
Germany in the early hours of Thursday delayed a decision on
providing state-backed bridge financing to Opel because the U.S.
parent company has come up with new cash demands.
Germany's government won't be a pushover in negotiations over
Opel's future, Guttenberg later told the budget committee.
GM Wednesday presented a new surprise cash demand of EUR300
million, which the federal government is unwilling to meet.
Finance Minister Peer Steinbrueck, also present at the budget
committee meeting, said the U.S. approach to the debate "has not
been transparent."
-By Beate Preuschoff and Nina Koeppen, Dow Jones Newswires; +49
(0)30 - 2888 4122; beate.preuschoff@dowjones.com