GM receives three bids for Opel (BBC)

[eppur_se_muova]

General Motors has received three final bids for its struggling Opel business, which includes Vauxhall in the UK.

Canadian car parts maker Magna, Belgian-based investor RHJ International and China's Beijing Automotive Industries are the bidders.

Magna, backed by Russia's Sberbank, has made a last-minute change to its bid in order to placate concerns about its Russian partner's influence.

It remains the favourite to buy a majority stake in Opel.

"General Motors confirms that it has received final offers for a stake in Opel/Vauxhall from three bidders. The final bids will now be analysed and compared by GM," GM said in a statement.
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more: http://news.bbc.co.uk/2/hi/business/8158569.stm

[CHIMO]

1. Magna To Table Its Final Opel Offer

Canadian parts maker Magna is expected to make a fresh offer for German carmaker Opel today, and will ask for rights to the automaker’s intellectual property. Binding offers for the failing General Motors’ unit are due to close this afternoon, with Reuters reporting three companies to be firmly in the running.
http://www.financierworldwide.com/article.php?id=4563

Germany Pressures GM to Sell Opel to Magna
Germany's government sent a message to General Motors Co. on Wednesday: If GM sells its European car business to anyone other than Magna International Inc., then Germany might withdraw its offer of state aid.

http://online.wsj.com/article/SB124769549412847863.html?mod=googlenews_wsj

[CTyankee]

2. Is this a good thing for us bondholders?

I'm still wondering what will happen...