GM are order to pay the severance negotiations for Opel

Sberbank sustain that GM must pay o sum which covers the costs which the financial institution make in the negotiation for Opel period.

The GM staff are restless after the negotiation with the German state and the ex potentials buyers of Opel, an Austrian-Russian-Canadian consortium run by Magna, were ended suddenly and with no explication by the American company. Although GM decided to keep Opel and also decided to end negotiations with Magna on last minute, the discussions between the parts are still open, the problems coming from the OAO Sberbank, the financial institution which must stay behind the Magna offer.

The OAO Sberbank director said in an interview to Russian television that GM should pay some compensation because they ended the negations in an advanced moment unilaterally. “ We believe that GM involving went very far so that the Americans should end the affair” , said German Gref.

Rumor say the Russian bank already expects from GM the voluntary payment of the amount which they owes. Also if GM doesn’t pay they will be sued by Sberbank.

Vladimir Putin also said that immediately after GM announced that won’t sell Opel, the Americans proved an arrogant attitude when they stopped unilaterally the negotiations.


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