GM close to putting 3bn rescue plan to Europe

GENERAL&nbsp; Motors will present a &euro;3.3bn (&pound;3bn) rescue plan to European governments for its struggling Opel and Vauxhall brands within days, those involved in talks said yesterday.<br /><br />GM this month backtracked on plans to sell the cars to a consortium led by car parts firm Magna -- a deal that involved government aid -- but is now turning again to European states for help to keep them in business.<br /><br />Opel interim chief executive Nick Reilly travelled to Brussels yesterday to meet officials including German Deputy Economy Minister Jochen Homann and Kris Peyters, the premier of Flanders, a Belgian region where Opel has a plant.<br /><br />The meeting was also attended by European Union Competition Commissioner Neelie Kroes, whose blessing is needed before any state can give financial aid, as well as the bloc&rsquo;s industry commissioner. Kroes recently forced a restructuring of the UK&rsquo;s bailed-out banking industry.