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Chinese carmaker vies for Opel

2009-07-02 09:50
Chinese carmaker Beijing Automotive Industry Holding Co plans to present a detailed bid for General Motors' Opel unit in the next few days, the Wall Street Journal reported, citing a person familiar with the matter.

Beijing Automotive held discussions with GM last week and is firming up details of an offer, the paper said.

Beijing Automotive currently makes Mercedes-Benz and Accent cars at joint ventures with Daimler AG and South Korea's Hyundai Motor.

General Motors has been talking to other potential buyers for Opel as it worked through snags with preferred bidder Canadian-Austrian auto parts group Magna International.

On Tuesday, a GM Europe spokesman confirmed that potential buyers for the business included Belgium-based holding company RHJ International and Beijing Automotive.

Beijing Automotive could not be immediately reached for a comment by Reuters.


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