| Author (Person) | Schäfer, Daniel |
|---|---|
| Series Title | Financial Times |
| Series Details | 4.11.09 |
| Publication Date | 04/11/2009 |
| Content Type | News |
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General Motors (GM) cancelled on the 3 November 2009 plans to sell a majority stake in its European car business including Opel and Vauxhall. It said 'Given an improving business environment for GM over the past few months, and the importance of Opel//Vauxhall to GM’s global strategy, the GM Board of Directors has decided to retain Opel and will initiate a restructuring of its European operations in earnest'. The German government said it 'regrets the decision'. German Economics Minister Rainer Bruederle called GM's decision 'totally unacceptable' and said he expected General Motors to present a restructuring plan as quickly as possible. The British government said it would work with General Motors on future proposals for Opel. The British trade union Unite welcomed GM's move, calling it 'an incredible turnaround'. |
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| Subject Categories | Business and Industry |
| Countries / Regions | Austria, Belgium, Europe, Germany, Poland, Spain, United Kingdom |
