LONDON, Sept 5 (Reuters) - German Finance Minister Peer Steinbrueck said he told U.S. Treasury Secretary Timothy Geithner on Saturday that Berlin wants a decision on the future ownership of Opel, which parent GM is considering selling.
Steinbrueck said he reiterated Germany's preference for a bid from Canadian auto parts maker Magna, which is competing with Belgian-listed financial investor RHJ for Opel.
'I told him (Geithner) our position -- that it's very important to us to fill this vacuum with a decision,' Steinbrueck said of the drawn-out process to decide the future ownership of Opel.
'My impression is that the U.S. government is leaving the decision to the GM board,' he told a news conference in London.
The U.S. Treasury owns a 60 percent stake in GM, acquired by providing some $50 billion in taxpayer loans and bankruptcy financing to the automaker. Keywords: OPEL STEINBRUECK/ (Reporting by Paul Carrel and Fiona Shaikh) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Steinbrueck said he reiterated Germany's preference for a bid from Canadian auto parts maker Magna, which is competing with Belgian-listed financial investor RHJ for Opel.
'I told him (Geithner) our position -- that it's very important to us to fill this vacuum with a decision,' Steinbrueck said of the drawn-out process to decide the future ownership of Opel.
'My impression is that the U.S. government is leaving the decision to the GM board,' he told a news conference in London.
The U.S. Treasury owns a 60 percent stake in GM, acquired by providing some $50 billion in taxpayer loans and bankruptcy financing to the automaker. Keywords: OPEL STEINBRUECK/ (Reporting by Paul Carrel and Fiona Shaikh) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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