ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

GM Generali

23.21
-0.27 (-1.15%)
09:46:15 - Realtime Data
Share Name Share Symbol Market Type
Generali AQEU:GM Aquis Europe Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.27 -1.15% 23.21 23.23 23.25 23.32 23.07 23.31 67,963 09:46:15

Belgian Union Gives Guarded Welcome To Opel Rescue Deal

30/05/2009 5:21pm

Dow Jones News


Generali (AQEU:GM)
Historical Stock Chart


From Jul 2019 to Jul 2024

Click Here for more Generali Charts.

BRUSSELS (AFP)--A Belgian union official gave a guarded welcome Saturday to the German government's deal struck with a Canadian company and its Russian backers to rescue U.S. giant General Motors' (GM) Opel unit.

Both he and local politicians in the northern region of Flanders, where Opel has a factory, expected tough negotiations ahead. But the local governor said he would offer public money towards saving the Antwerp plant.

"A very important step has been taken, thanks to which Opel will not sink if General Motors collapses," Rudi Kennes of the socialist FGTB union at Opel's Antwerp plant told the Belga news agency.

"In the next few weeks negotiations will take place with the buyers on the future of the Antwerp factory," he said.

Speaking separately to television channel RTBF, Kennes said he had spoken last week with officials of Canadian company Magna, who had struck him as "very professional."

"That is good news, but they are also businessmen, so we expect long and tough negotiations," he added.

Kris Peeters, leader of the Flanders regional government, said he was ready to go into talks with an offer of public funding for the local plant.

"In the next few weeks, we will hold talks with Magna and the German government to see what a solution for Opel Atwerp would look like," he told Belga.

"Antwerp has numerous assets which should be highlighted. Moreover, the Flemish government has proposed to put EUR500 million towards a solution."

That contribution could take the form of a public guarantee or a mortgage on the land and buildings at the site, in exchange for guarantees that it would remain open.

Germany on Saturday picked Canadian auto parts maker Magna International and its Russian backers to take over Opel in a deal that will keep the brand on the roads and save as many European jobs as possible.

The negotiations have worried Belgium, which complained of being sidelined by Germany in the fight to keep the 2,500 jobs at Antwerp.

 
 

1 Year Generali Chart

1 Year Generali Chart

1 Month Generali Chart

1 Month Generali Chart