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| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.22 | -0.94% | 23.26 | 23.26 | 23.28 | 23.32 | 23.07 | 23.31 | 76,749 | 09:52:34 |
From Jul 2019 to Jul 2024
Volkswagen AG (VOW.XE) said Wednesday Canadian auto parts supplier Magna International Inc. (MGA) will face conflicts of interest following the planned takeover of General Motors Corp.'s (GM) Adam Opel GmbH unit.
"Volkswagen will monitor this development very closely," spokesman Michael Brendel said.
Volkswagen, Europe's largest automaker by sales, is a direct rival of Opel.
"Tax money has been used to a large extent for Opel's rescue. We hope that through this a sustainable and successful result will be achieved effectively," Brendel said.
Last week, the German government together with the German states where Opel plants are located decided to support Magna's bid for the Ruesselsheim-based automaker through bridge financing of EUR1.5 billion and keep it out of the bankruptcy filing of parent GM in the U.S.
Magna has teamed-up with Russia's OAO Sberbank (SBER.RS) and OAO GAZ Group (GAZA.RS) to take over Opel and boost its presence in Russia.
Company Web site: www.volkswagen.com
-By Christoph Rauwald, Dow Jones Newswires; +49 69 29 725 512; christoph.rauwald@dowjones.com
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