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German Econ Min: No Decision Reached Yet On Opel Help

Germany hasn’t reached any decision yet about possible help for General Motors Corp.’s (GM) German unit Opel and it will contact GM and the U.S. government in the coming weeks, Germany’s Economics Minister Karl- Theodor zu Guttenberg said Monday.

He said the government learnt some details of the company’s restructuring plan for Opel earlier Monday and the economics ministry and government would now examine these. The examination would be thorough and any decision would take as long as needed to be “economically sensible.”

“No initial decision at all has been made,” zu Guttenberg said. He declined to say when a decision, which “must be sensible” would be reached and added the government wouldn’t let itself be pressured.

An examination of the restructuring plan will start this week and continue over the coming weeks, he said.

“I will first contact the parent company to discuss outstanding issues and to get an idea of where the parent company is headed,” he said. “I will also talk with the U.S. government during my visit there in two weeks because one or the other outstandingissuecould depend on cooperation of both governments. We will also talk with the (German) state economics ministers this week about the details that we have learned today.”

[ Continue reading original article on CNN Money ]

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