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GM CEO Akerson Confirms Opel Not for Sale

by on Jul.27, 2011

Opel is still not for sale, insists Akerson.

General Motors’ top executive has made another attempt to head off rumors that the maker’s long-troubled Opel subsidiary is for sale.

“We don’t comment on speculation,” GM chairman and chief executive officer Dan Akerson said before doing precisely that during a brief news conference at a GM assembly plant in Detroit called to officially discuss the opening of contract talks with the United Auto Workers

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“Opel is not for sale,” Ackerson emphasized, reiterating a comment he made earlier in the month – which apparently did little to quell reports in Germany that the subsidiary would be placed on the market.  Whether his latest comment will finally quash speculation remains to be seen in light of Opel’s ongoing problems.


GM Says Opel Not for Sale

German subsidiary making “solid progress.”

by on Jul.18, 2011

Former GM engineer Frank Weber helped guide development of both the Chevy Volt and its near-twin, the Opel Ampera, shown here.

Again battling speculation about the possible sale of Opel, which has been circulating in the German press, General Motors has dropped its usual policy of not commenting on speculative stories by firmly stating the long-troubled subsidiary is not for sale.

GM came close to selling off a majority stake in Opel two years ago, and many observers, especially in Germany, believe that with Opel’s recovery still stalled GM might be once again looking for a buyer.  The long-running rumors gained momentum when Volkswagen chief executive officer Martin Winterkorn. Winterkorn last week suggested GM was trying to sell Opel.

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“In Wednesday’s edition of the Frankfurter Allgemeine Zeitung, Volkswagen CEO Martin Winterkorn commented on rumors regarding Opel, which continues a regrettable pattern of fanning speculation as Opel makes solid progress in its restructuring, in generating improved operating results and more,” GM said in statement posted on the company’s media web site.