Washington, Nov 4 (DPA) General Motors’ board voted Tuesday to hold on to its Opel division rather than sell a majority stake to Canada-based Magna, ending months of uncertainty and dashing the hopes of German officials.
“Given an improving business environment for GM over the past few months, and the importance of Opel-Vauxhall to GM’s global strategy, the GM board of directors has decided to retain Opel and will initiate a restructuring of its European operations in earnest,” GM said in a statement.
