Magna, GM In Talks On Reimbursing Costs For Opel Revamp Plan
FRANKFURT -(Dow Jones)- Canadian car parts maker Magna International Inc. (
MGA) is talking to General Motors Co., seeking reimbursements for costs related
to drafting a restructuring plan for the U.S. automaker's German Opel unit,
Magna Co-Chief Executive Siegfried Wolf said in a radio interview with Austria's
ORF.
Asked whether the speculated sum of EUR100 million is correct, Wolf
sidestepped the question and replied that "it was indeed a large sum because it
was a complex issue."
Wolf said after GM surprisingly skipped the plan to sell Opel and restructure
the business themselves, GM's revamp will comprise many tasks from Magna's plan.
Radio station Web site: http://oe1.orf.at
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500.
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11-11-090505ET
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