China Beijing Auto fails in bid for GM Opel over IPR
As reported by Reuters, China's Beijing Auto IPR issues were behind its failure to reach an agreement with General Motors over its Opel unit.
General Motors' European business said it had agreed to continue detailed talks with both Magna and RHJ International on its German unit Opel, but did not mention Beijing Auto, which had also submitted an offer.
Beijing Auto which is Govt controlled enterprise is targetting to double its annual vehicle sales to 2 million units by 2015 from the fig of approx 7,70,000 units in 2008. Beijing city government is likely to fully support a bid by the company for Ford Motor's Volvo car unit if Beijing Auto failed in its deal with GM;s Opel.
« Back
|