GM chief sorry for Opel-Magna deal handling

Written by: Super Admin
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Berlin, Nov 12: General Motors' CEO Fritz Henderson has apologised for the company's handling of a sale of its subsidiary Opel to Canadian manufacturer Magna and Russian investment bank Sperbank, a deal that was aborted last week.

He expressed "deep regret" for provoking outrage among government leaders, trade unions and Opel workers by an unexpected announcement last week to cancel the deal.

Speaking to a German televison interview, "GM CEO Fritz Henderson said, "It was not our intention to surprise anybody, although now we know that we have done that. We deeply regret it."

His statements came after the German Chancellor Angela Merkel sharply criticised the company for cancelling the sale, which was supported by Germany's government as the best option for saving a major part of around 25,000 jobs in the country.

Merkel had said, "For months, the General Motors was not in a position even to nearly fulfill its responsibility towards Opel."

"I extremely regret the decision by the General Motors," the chancellor had said.

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