GM seeks new bid for EU arm

<div>General Motors is soliciting rival bids to trump frontrunner Magna&rsquo;s offer for its European operations, with China&rsquo;s Beijing Automotive Industry Corporation (BAIC) expected to seek a deal. BAIC is understood to be preparing an offer to be submitted before the end of July, while Belgium-based investor RHJ International may also put in a bid. Canadian firm Magna has preferred bidder status, after it signed a memorandum of understanding to take a 55 per cent stake in conjunction with Russia&rsquo;s Sberbank.</div>