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Mandelson warns of GM 'pain'

Business Secretary Lord Mandelson warned yesterday there will be “painful change” after the takeover of GM Europe.  He said whichever bidder wins GM’s British arm, Vauxhall, will be forced to cut costs and consolidate. He added he was working hard to secure the future of Vauxhall’s plants. Italian carmaker Fiat and Canadian parts maker Magna have both expressed their interest in buying Vauxhall parent Opel.