OPEL DEAL UNDER FIRE FROM MANDELSON
September 1st, 2009
BY KEITH NUTHALL
THE WHITE knight deal - sweetened by around Euro 4.5 billion (US$6.5 billion) in German government subsidies - to transfer control of Opel-Vauxhall to a Canadian-Russian consortium, is under fire. Britain's business secretary Lord Mandelson has advised that alternative agreements are sought to save the ailing GM-controlled car maker, calling for a "commercially-based outcome rather than one determined by political intervention and subsidies". His comments have been echoed by the Belgian, Spanish and Hungarian governments, whose ...
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