GM Dismisses Opel Sale Rumors

Photo of Trey Thoelcke
By Trey Thoelcke Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

In response to rumors that it may be in talks with Fiat again, General Motors Co. (NYSE: GM) reiterated today that its European Opel brand is not for sale.

An Italian newspaper said earlier Friday Fiat was looking to relaunch talks with GM about acquiring German auto maker Opel. Citing no sources, Il Sole 24 Ore said Fiat Chief Executive Sergio Marchionne wanted to snap up Opel at zero cost, but that no proposal had been formally presented to GM yet.

GM Vice Chairman Steve Girsky said in a statement that Opel remains a fully integrated part of GM’s global footprint and is vital for GM’s future success in Europe.

Fiat made a bid for Opel in 2009 when GM put the unit up for sale as part of its wide-ranging restructuring efforts. But German labor unions and politicians fiercely opposed the deal due to concerns about large-scale job cuts because both Fiat and Opel suffer from excess production capacity in Europe.

GM’s board decided to keep Opel. The Detroit automaker has restructured the unit’s management and prepared a comprehensive turnaround plan for the division that includes an alliance with French peer PSA Peugeot-Citroen.

Photo of Trey Thoelcke
About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

Featured Reads

Our top personal finance-related articles today. Your wallet will thank you later.

Continue Reading

Top Gaining Stocks

CBOE Vol: 1,568,143
PSKY Vol: 12,285,993
STX Vol: 7,378,346
ORCL Vol: 26,317,675
DDOG Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ Vol: 4,367,433
CLX Vol: 13,260,523
SYK Vol: 4,519,455
MHK Vol: 1,859,865
AMGN Vol: 3,818,618