Germany May Give Loan Guarantees to Opel if GM Files Bankruptcy
By Tony Czuczka
May 11 (Bloomberg) -- Germany may consider government loan guarantees for General Motors Corp.’s Adam Opel GmbH unit if GM files for bankruptcy and a deal with an investor to take over the German unit is “close at hand,” said Felix Probst, a spokesman for the Economy Ministry in Berlin.
Under the possible scenario envisaged by Economy Minister Karl-Theodor zu Guttenberg, a private trust would take over Opel from GM, Probst said today in a telephone interview. “In such a fiduciary solution, one might offer government guarantees,” Probst said.
To contact the reporter on this story: Tony Czuczka in Berlin at aczuczka@bloomberg.net
Last Updated: May 11, 2009 02:46 EDT
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