GM's opposition to the Magna (MGA) bid for Opel is because of Russian participation in the deal,...

|About: Magna International Inc. (MGA)|By:, SA News Editor

GM's opposition to the Magna (MGA) bid for Opel is because of Russian participation in the deal, Der Spiegel says. The U.S. government - which owns 60% of GM - is worried a deal would jeopardize GM's position in the Russian auto market, and "even 20 years after the end of the Cold War, 'selling off to the Russians' is still perceived by many as a humiliation."