GM's wish for extra $415M stalls Opel talks

05/28/2009 | Reuters

All-night negotiations over the rescue of Opel, General Motors' European unit, collapsed after GM insisted on an additional $415 million in cash, catching bidders and the German government off guard. German Finance Minister Peer Steinbrueck noted "surprises and disappointment" stemming from the negotiations. A GM bankruptcy would be largest ever for a U.S. industrial company.

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