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European News

GM's Opel move raises anger, new uncertainty

Wednesday, November 04, 2009 11:23:44 AM
By GEIR MOULSON

Germany's Economy Minister Rainer Bruederle arrives for the weekly cabinet meeting at the chancellery in Berlin, Germany, Wednesday, Nov. 4, 2009. Bruederle called Wednesday on General Motors Co. to present its restructuring plan for Opel as soon as possible and vowed to get back the euro1.5 billion  (US$ 2.2 billion) in bridge loans it granted the automaker. (AP Photo/Markus Schreiber)BERLIN (AP) - General Motors Co.'s decision to scrap the sale of European subisidiary Opel raised new uncertainty Wednesday over the unit's future, astonishing politicians in Germany and Russia and prompting workers to plan walkouts in protest.

The GM board's unexpected decision to call off the sale to auto parts maker Magna International Inc. and Russian lender Sberbank was a startling end to months of haggling in which Chancellor Angela Merkel and other German leaders had strongly backed the deal.

Now German workers worry GM will make even more cuts to return Opel to profit than Magna would have.


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