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Germany turns down Opel’s request for aid

GERMANY’S economy minister Rainer Bruederle said yesterday he had rejected a bid by carmaker General Motors for state aid for its European unit Opel.

Bruederle said he took his decision after a steering committee assessing the aid request failed to reach a unanimous position, adding that he was convinced GM had enough money to complete an overhaul of Opel.

Opel, which owns the UK Vauxhall unit, wanted loan guarantees of more than €1bn (£900m) from Germany.