GM Board Plays Waiting Game with Opel

General Motors' board of directors passed on making a decision to sell a controlling stake in its struggling Opel unit to Canadian parts supplier Magna (MGA) and its Russian partner, OAO Sberbank (SBER.RTS). Sources who were in the meeting or briefed on the conversations say the board wanted to modify terms of the deal before voting on it, but also considers a bid from Belgian investment firm RHJ International (RHJI.BR)—which the German government so far has not supported—to still be on the table.

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