GM again mulling Opel sale: reports

9th June 2011, Comments 0 comments

General Motors is considering selling the sale of its European brand Opel after initially deciding to hang on to the unit, according to German media reports that Opel termed "speculation" on Thursday.

The weekly magazine Spiegel and specialised publication Auto-Bild said GM would sell Opel and its British sister brand Vauxhall because they were struggling to bounce back from the global economic crisis.

"This is pure speculation, we will not comment on it," an Opel spokesman told AFP.

GM had agreed to sell Opel in 2009 before changing its mind and saying it would turn the brand around without financial aid from Germany.

In June 2010, GM unveiled a restructuring plan for Opel/Vauxhall that included the elimination of 8,000 jobs.

© 2011 AFP

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