In Germany, GM confirmed that its Opel subsidiary could sell a German car plant to Daimler. Opel's management presented the company's supervisory board with a restructuring plan. No details of the plan were immediately available.
The Frankfurter Allgemeine Zeitung newspaper reported that GM is aiming to retain a 30% stake in an independent Opel/Vauxhall, while putting the future company at a disadvantage by transferring patent ownership for the engineering centre in Ruesselsheim back to GM.
It seems that the German government is demanding Opel become a standalone division before it approves any aid. German politicians are worried that state aid might be transferred to Opel's struggling U.S. parent. Earlier Daimler said it had no interest in acquiring Opel. (SB)
