Beijing Auto Said to Meet With Opel as GM, Magna Prepare Sale
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Beijing Automotive Industry Holding Co. will hold meetings this week with General Motors Corp. about its bid for Opel should Magna International Inc.’s offer for the European carmaker fail, two people familiar with the talks said.
Beijing Auto executives are meeting managers at GM Europe’s office in Zurich and in Ruesselsheim, Germany, where Opel is based, said the people, who declined to be identified because the talks are private. Magna still hasn’t resolved how many jobs it will cut, how it will fund pension liabilities, or what rights it will have to use GM technology in future.