EU says needs more info from Germany on Opel loan

[Hurricane]

EU says needs more info from Germany on Opel loan
Wed Jul 1, 2009 6:42am EDT

BRUSSELS, July 1 (Reuters) - EU regulators are nearing the end of their investigation into Germany's bridge financing for General Motors unit Opel but need more information from the German authorities, the European Commission said.

"We're still lacking some specific information from the German authorities," Commission competition spokesman Jonathan Todd told a daily news briefing on Wednesday.

"This is just a routine matter ... I would not read into this that there is any suggestion that there is going to be a big clash or problem," he said.

"Once we get this information, I would expect we would be able to reach a conclusion very quickly."

The proposed loan from the German government is for 1.5 billion euros ($2.1 billion).

Full text here: http://www.reuters.com/article/marke...0090701?rpc=44

[mbukukanyau]

So, what happens if Good GM emerges from Bunkruptcy before Opel is sorted out? Do they keep the whole thing, or still sell a chunk?

[dederer]

Originally Posted by mbukukanyau

So, what happens if Good GM emerges from Bunkruptcy before Opel is sorted out? Do they keep the whole thing, or still sell a chunk?

Good question, what will happen if they don't get the cash? Bankruptcy for Opel too?