European Opel Labor Reps,Magna Still In Talks On Opel Takeover
14 Julho 2009 - 1:57PM
Dow Jones News
European labor representatives for General Motors Corp.'s (GM)
Adam Opel GmbH unit are still in talks with Magna International
Inc. (MGA) on Magna's planned takeover of Opel, German labor union
IG Metall said Tuesday.
The union said the European labor representatives forum for Opel
Europe rejected the current form of a memorandum of understanding
that Magna presented for Opel, but the union hasn't completely
rejected Magna.
IG Metall added that this could be expected and isn't an
alarming move.
The comments come in response to a report in daily Rheinische
Post that said Opel workers surprisingly pulled away from Magna. It
cited Oliver Burkhard, head of IG Metall's operations in the state
of North Rhine-Westphalia, as saying the European labor
representatives unanimously rejected Magna's current takeover
plan.
"There is no rejection from IG Metall to Magna and there is no
one that formulated such a thing," Opel supervisory board member
and labor representative Armin Schild said in a statement.
Labor union Web site: www.igmetall-bezirk-frankfurt.de
-By Frankfurt Bureau, Dow Jones Newswires; +49 69 29725 500;
djnews.frankfurt@dowjones.com