REPORT: GAZ confirms interest in Opel
Russian Prime Minister Vladimir Putin himself has said that at the behest of Magna, Russia's GAZ conglomerate is considering taking a 30% interest in Opel. GAZ, though, has made it clear that it does not want to run or own Opel – what it really seems to want is to have cars to produce at its factory in Nizhny Novgorod. Under such a proposal, Automotive News reports that Magna would take 20% of Opel.
The German authorities are now weighing the offers from Magna/GAZ and Fiat. GM is said to prefer a single bidder, in the guise of Fiat, while Germany was recently said to prefer Magna's proposal because of promises to keep production in Germany. If, however, GAZ's real desire is to increase its Russian production abilities, if it were to take a larger stake in Opel than Magna, there will undoubtedly be conflicts to resolve. And that's before the remaining 50% partners' needs and wishes are taken into account.
[Source: Auto News, sub req'd]
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Reader Comments (Page 1 of 1)
Beastage 7:07PM (5/12/2009)
wtf autoblog?! I demand a bubble for this image... look at Putin's face! WHERE IS THE BUBBLE?!
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Beastage 7:08PM (5/12/2009)
Anyway, GAZ just gave Opel to FIAT, hurray!
Rufus 7:31PM (5/12/2009)
ZOMZ!! This is Socialism!!
AmIdoingitrite?
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Nick 8:06PM (5/12/2009)
Opel also makes a ton of natural gas powered cars, I wonder if that has anything to do with Russia's plan.
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Sean 8:02PM (5/12/2009)
Putin always looks so... "meh"
He's an inspiration.
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XJ 8:57PM (5/12/2009)
He's trying to hold back his excitement. Unfortunately, his left hand is taking that too literally.
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seppling 9:41PM (5/12/2009)
I see what you see :)
cdwrx 9:23PM (5/12/2009)
I love the '80s GT steering wheel and aftermarket speaker grills. Are the Russians still 25 years behind?
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asuka 11:24PM (5/12/2009)
In Soviet Russia, GAZ drives you!
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catchmyshadow 5:25AM (5/13/2009)
putin and his oligarchs robbed all natural resources from their countrymen over the last 2 decades and because of the financial crisis they are now desperate to launder and save their (dirty) money they get out of it. the same with arabs who are trying to buy stakes in Porsche, Mercedes etc. a Disgrace!
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Rar 6:30AM (5/13/2009)
to germany :
do you really want this?
why your goverment does not buy opel?
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imoore 10:07AM (5/13/2009)
Why GAZ? GAZ has already driven LDV Vans out of business nearly one year after they bought it, and it's struggling to stay in business on its own. I know they already own part of Magna, but that doesn't make the situation any better. I think maybe the German government would make a better suitor.
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