Germany to offer 4.5B credit for Magna

Germany to offer 4.5B credit for Magna Yahoo Aug 19
Germany's economy ministry says its is prepared to make euro4.5B ($6.35B) in credit available to a CN-Russian consortium in the bidding war to take over Ruesselsheim-based carmaker Adam Opel. The ministry confirmed comments by Deputy Economy Min Homann, saying the German gov't had informed GM that it would take on the full burden of the necessary credit, in order to avoid lengthy negotiations with other European nations that host Opel or GM Europe factories. The German gov't repeatedly stressed its preference for a consortium of CN auto parts maker Magna Int