General Motors is looking for outside investment into German automaker Opel, and new reports coming out of Europe indicate that two main bidders have separated from the rest of the pack: Fiat, which we've already heard about, and Magna International. Oleg Deripaska, a familiar name to those who follow the auto industry closely, is said to have aligned himself with Magna in an attempt to acquire a 50% stake in Opel.

Fiat chairman Luca de Montezemolo has denied that his company is interested in purchasing General Motors' Opel brand, but reports from a number of reputable sources, including Fiat's own CEO Sergio Marchionne, indicate otherwise.

GM is said to favor a single bidder, which may improve Fiat's chances somewhat. Union officials and policymakers in Germany, on the other hand, have voiced concerns over the Italian automaker's plans, saying they welcome the alternative plan from Magna. It should be interesting to see how this all plays out in the coming weeks.

[Source: Automotive News - sub. req'd]

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