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Germany warned over Opel aid
The European Commission yesterday sent a warning to Germany on the provision of state aid to General Motors’ European arm Adam Opel, whose future may hinge on billions of euros in funding from the German government.
Aid that served national interests could breach European rules, the commission said. The commission’s comments came after questions about whether Opel’s funding could be conditional on keeping German manufacturing plants open.
The German government has offered state-backed guarantees to the winning bidder for the firm. Rivals Magna and RHJ International hope to buy the firm.