The German states where Opel factories are based still prefer Magna’s offer for the German car maker, it has been revealed.
Rhineland-Palatinate, Hesse, North Rhine-Westphalia and Thuringia are understood to have discussed the matter in a telephone conference today, two sources told Reuters.
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It had been thought that Belgian financial investor RHJ International was the new favourite to buy the firm.
But Germany's economics minister ruled out allowing GM to include a buy-back clause in its sale of Vauxhall/Opel, which was key to RHJ’s bid.
The German government has a say in who can buy Vauxhall/Opel as it will take on the bulk of the loan guarantees required as part of a deal.
The state and federal governments are represented on the board of a trust that has to approve a sale of Opel.
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