Opel is not for sale, GM CEO says image

General Motors’ CEO Dan Akerson once again said Opel is not for sale, following a report in the French media that PSA Peugeot-Citroen could take over GM’s European unit.

“Opel is not for sale. It’s not to be given away either,” Dan Akerson was quoted as saying by Reuters at the Detroit auto show today. French newspaper La Tribune wrote that PSA could take over Opel with backing from GM and the French government. According to the report that cited unnamed sources familiar with the matter, GM would be prepared to contribute several billion euros to facilitate the transaction and make it attractive to PSA.

“The hypothesis is being studied that PSA would take over Opel,” La Tribune quoted one source as saying, adding that GM wanted to get rid of the unit despite recent management comments that it was not for sale. La Tribune added that the French state could take a stake in Opel as part of any deal.

A PSA Peugeot-Citroen spokesman said that an acquisition of Opel did not feature currently among the company’s plans. GM said last week that Opel was not for sale, as it plans to reduce losses and return Opel to profit by mid-decade.