BERLIN, May 4 (Reuters) - German Economy Minister Karl-Theodor zu Guttenberg cautioned on Monday against waiting too long to settle on a bidder for General Motors unit Opel, saying a decision could come this month.
'I don't rule that out,' Guttenberg told ZDF public television when asked whether a decision on an Opel investor was possible in May.
'The decision cannot be pushed back forever,' he added, hours after meeting with Sergio Marchionne, the head of Italian carmaker Fiat, and hearing his plan for a takeover of GM's European operations, including Opel.
Guttenberg reiterated that the government was prepared to provide financing guarantees to an investor that presented a convincing long-term plan for Opel.
He said it was now up to Magna, the Austrian-Canadian car parts maker that is also interested in Opel, to provide more details about its plans.
Guttenberg said the decision on how to proceed with Opel, which employs about 25,000 in Germany, lay mainly with GM.
Opel unions have reacted coolly to the idea of a takeover by Fiat, whose chief executive told Guttenberg earlier in Berlin that an Opel engines and parts factory in Kaiserslautern, western Germany, could be targeted if a deal went ahead.
(Reporting by Gernot Heller; Writing by Noah Barkin) Keywords: OPEL/ (noah.barkin@reuters.com; +49 30 2888 5091; Reuters Messaging: rm://noah.barkin.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'I don't rule that out,' Guttenberg told ZDF public television when asked whether a decision on an Opel investor was possible in May.
'The decision cannot be pushed back forever,' he added, hours after meeting with Sergio Marchionne, the head of Italian carmaker Fiat, and hearing his plan for a takeover of GM's European operations, including Opel.
Guttenberg reiterated that the government was prepared to provide financing guarantees to an investor that presented a convincing long-term plan for Opel.
He said it was now up to Magna, the Austrian-Canadian car parts maker that is also interested in Opel, to provide more details about its plans.
Guttenberg said the decision on how to proceed with Opel, which employs about 25,000 in Germany, lay mainly with GM.
Opel unions have reacted coolly to the idea of a takeover by Fiat, whose chief executive told Guttenberg earlier in Berlin that an Opel engines and parts factory in Kaiserslautern, western Germany, could be targeted if a deal went ahead.
(Reporting by Gernot Heller; Writing by Noah Barkin) Keywords: OPEL/ (noah.barkin@reuters.com; +49 30 2888 5091; Reuters Messaging: rm://noah.barkin.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.