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General Motors Planning Opel Sale Again
General Motors had put Opel for sale in 2009 after the global economic crisis forced it to enter bankruptcy. After months of negotiations with several buyers GM decided not to sell Opel. GM went on to invest $1.6 billion in Opel to restructure it and develop new models. Opel has slowly clawed back its lost market share in the past one year. It is surprising that GM is considering to sell Opel when the company is in an upswing.
Opel has dismissed reports about its sale as "pure speculation" and has demanded a denial from its parent company General Motors. Klaus Franz, the head of the Opel's works council said that General Motors had so far retained Opel to prevent loss of technology developed by the the European Division. General Motors has declined make any comments on the issue. Recent reports indicate the carmaker wants to restart Opel India this year.
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