Workers at Germany's Opel plants worried about the company's possible takeover by French carmaker PSA. Opel's US parent General Motors is ready to sell.
Karl-Thomas Neumann, CEO of General Motors' European subsidiary, Opel, is stepping down. But he will stay on the board until Opel's takeover by French rival PSA is completed.
Meeting German government officials and labor unions, Peugeot SA CEO Carlos Tavares has pledged to uphold a job guarantee for Opel and Vauxhall workers in the wake of PSA's takeover of the struggling carmaker.
With PSA's takeover of Opel/Vauxhall, new questions have arisen about the future role of GM's former European division. German car industry expert Ferdinand Dudenhöffer looks beyond the day's official statements.
A deal on French carmaker PSA's takeover of GM's European division seems to be just around the corner. The breakthrough looks set to be officially announced on Monday.
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