Hope for Opel as Magna seals preliminary pact with GM

Canadian car parts group Magna has reached a preliminary deal with General Motors to invest in its German unit Opel, sources close to the negotiations told Reuters on Friday.

The sources said Magna and GM still had to work out details before an expected meeting later on Friday with German Chancellor Angela Merkel.

Separately, a government spokesman said a meeting with Merkel and top government officials had been pushed back until 6 p.m. (12 p.m. EDT) due to ongoing negotiations between GM and Magna.

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- Posted: 2009-05-29 10:46:13

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