Update on Magna-Sberbank’s Buying General Motor’s, Opel!

Here is an update on a subject that I have followed from the beginning: The European Union has been causing Germany tremendous headaches over the GM / Opel to Magna / Sberbank with the threats of antitrust issues. The EU finally has said that they will not cause or plan any blocks of the transaction.

With Opel poised to run out of cash by mid-January, it was in nobody’s interests to reopen the bidding process for the car maker, and the EU was looking like they were going to force that very issue. So it looks like finally the deal will go through…

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