Volkswagen Keen on Acquiring Opel from GM

The saga surrounding GM owned European brand Opel deepens. Manager Magazin, a German monthly publication reported in its latest issue that deep pocketed Volkswagen Group is out shopping again.

Some un-named sources close to the car maker have revealed that Volkswagen gave General Motors ‘a rough estimate’ of what it is willing to pay for Opel, after rumours surfaced that Hyundai is keen on acquiring the troubled European brand. This follows earlier reports that the Chinese is also interested in taking over Opel from GM.

According to the magazine, GM is said to have found the offer too low.

Volkswagen has refused to comment on the matter when contacted, simply stating that “We don’t comment on market rumours in general”.

Similarly, Opel has called the German magazine’s article “pure speculation” and highlighted a previous statement made by parent company GM regarding the matter: “Opel has been a part of the GM family since 1928 and remains important for the company”.