Install

Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

GM Needs More Time on Opel Deal

BERLIN — General Motors will need more time to solve issues with Magna International as it seeks a buyer for the Opel unit, John Smith, the carmaker’s chief negotiator, wrote Thursday in a blog posting.

Efforts to overcome those issues with Magna, Sberbank and GAZ exposed “difficulties” in talks in Berlin this week, he said.

“Little progress was made” with the Magna team on issues such as intellectual property and access to the Russian market, Smith wrote.

Talks in Germany even brought about “the return of some issues” previously considered to be resolved, he added.

GM aims to complete an evaluation of offers from Magna and RHJ International and make a recommendation to the trust that controls 65 percent of Opel “shortly,” the Detroit-based carmaker said on Aug. 4.