Fiat and Magna have already outlined their bids for General Motors’ Opel division but the German ministry today pressed the Opel suitors to improve their bids. Fiat and Magna are among three remaining Opel suitors with the last being RHJ International.
According to Automotive News, the German ministry urged the remaining Opel bidders to assume a greater portion of risk and ensure more Opel jobs will remain intact. “There’s no favorite,” Economy Minister Karl-Theodor zu Guttenberg told Automotive News. “Everyone knows that improvements are still necessary.”
Zu Guttenberg acknowledged Fiat’s Opel offered “looked serious” but added Magna and RHJ were still in the running for the German automaker.
All three companies have been meeting with Opel representatives over the last few days with negotiation expected to heat up this week. The U.S. government has set a June 1 deadline for GM to restructure or face bankruptcy, with a decision on Opel likely to be made before that.
