GM may mortage its China assets to raise money for Opel
Published: 24 Aug 2009 21:14:38 PST Shanghai, August 25 (Gasgoo.com) General Motors Co is considering a plan to retain its Opel and Vauxhall operations in Europe and may mortgage its assets in China to raise money, Reuters reports Tuesday, citing sources with knowledge of the deliberations.The development follows a meeting last Friday in which GM directors declined to endorse a sale of Opel to Magna, sending the automaker back into negotiations this week with the German government.
Sources said while GM remains focused now on trying to clear remaining issues with the Magna deal, executives also are considering other options, including raising more than $4 billion in a bid to keep Opel.
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