Magna wins Opel bid. After months of deliberation, General Motors decided to sell a 55% stake in its Opel unit to the consortium of Magna International (MGA) and Russia's Sberbank, while keeping a 35% stake for itself and a 10% stake for employees. The deal is a victory for Germany's Angela Merkel, who had lobbied for Magna's bid and could get a boost in the upcoming elections, as well as for Russia, which has aggressively pushed for a role in the consolidating global car market. Details of German financing for the deal will be finalized in the next few weeks. (Read GM's press release)
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