SolarWorld offers to purchase Opel, kind of
Well, it's not exactly a solar car, but it's a start, right? By now, everyone is aware that General Motors is in a bit of financial trouble at the moment, and those U.S. problems will definitely have an impact on the European automakers also owned by GM, including its Opel subsidiary. A German power company called SolarWorld has made an extremely odd offer to the General to purchase the Opel brand for 1 billion euros, or about $1.26 billion in U.S. funds. Um, not gonna happen, for a variety of reasons, not the least of which are the provisions demanded by SolarWorld for the sale. For starters, the German company suggests that each Opel worker get a payout, which would cost somebody, presumably General Motors itself, a total of... about a billion euros. Plus, nobody knows where SolarWorld would get the funding from. It seems that SolarWorld is looking to get a bit of press by making the offer to create "first green European car company," as they call it. It's worked. Thanks for the tip, Kenneth![Source: AFP via Yahoo]
Reader Comments (Page 1 of 1)
rob 10:45PM (11/19/2008)
Hey, why spend $1.3B for Opel, when you can get all of GM for just $400M more. (Market cap was $1.7B at the close today).
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