Ever since GM showed interest in an external investment into Opel, there have been reports coming out from the European front that suggest two major bidders have separated themselves from the rest. One is Fiat and the other is Magna International.
A man named Oleg Deripaska, a familiar name in the automotive industry, has allied himself with Magna in his effort to purchase 50 percent of Opel’s stake. Fiat has denied that it has any interest in acquiring Opel, but this is contrary to reports from reliable sources including the Boss of Fiat itself. Fiat’s chances at Opel are increased somehow because GM favors a single bidder. German union officials and policymakers, meanwhile, has been expressing sympathy toward the alternative plan from Magna. The coming weeks will show what will be the end of this saga.
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