Bloomberg: Opel Workers to Fight to End GM Control, Schild Says

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Opel workers plan to pressure General Motors Co. into accepting an offer to sell a majority stake to a group led by Canada’s Magna International Inc., a labor representative on the unit’s supervisory board said. “The parent needs to understand that there’s no going back,” Armin Schild, an official with the IG Metall union, said today in an e-mail. “Neither the continuation of the waiting game aimed at the unit’s insolvency nor a return to ‘un-independence’ will be accepted without opposition.” GM’s advisers are recommending that the board consider spurning a German-government backed sale of Opel in order to retain a bigger presence in Europe and Russia, a person familiar with the discussions said. The advisers suggest GM seek aid from other European countries to retain ownership of the division as an alternative to surrendering control, the person said. GM’s new board, dominated by members appointed after the Obama administration forced the company into bankruptcy, is questioning the decision made by previous directors to give up control of Opel.