GM Considers Keeping Opel as Pressure Mounts
General Motors Co is considering a plan to raise funding to keep Opel as an alternative to selling the unit to Magna International, sources with knowledge of the deliberations said on Monday, Reuters reported. The development comes against a backdrop of escalating labor tensions and political stakes over GM's slow-moving effort to sell control of Opel and its British affiliate, Vauxhall. The Obama administration pledged on Monday to stay out of GM's choice of a buyer for Opel, while union leaders in Germany put more pressure on the U.S. automaker to make a decision. At a board meeting on Friday, GM directors declined to endorse a sale of Opel to Magna, sending the automaker back into negotiations this week with the German government. Read more.