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GM boss quashes rumours of Opel sale to Peugeot.

M2 EQUITYBITES-January 15, 2013-GM boss quashes rumours of Opel sale to Peugeot(C)2013 M2 COMMUNICATIONS

15 January 2013 - General Motors Company (NYSE:GM) has no intention of selling or giving away its German-based subsidiary Adam Opel GmbH, Reuters reported citing GM chief executive Dan Akerson.

Speaking before reporters at the 2013 Detroit Auto Show, Akerson made the statement to refute rumours that Opel could be taken over by French carmaker PSA Peugeot Citroen SA (EPA:UG).

According to an article in La Tribune, the US automotive giant could dispose of Opel under a scenario involving a Peugeot takeover with assistance from the French government. Sources familiar with the matter told the French newspaper that GM was willing to part with several billion euros in order to lure Peugeot and facilitate the deal, La Tribune added.

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Publication:M2 EquityBites (EQB)
Date:Jan 15, 2013
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