GENERAL MOTORS

Chinese carmakers are venturing on to the global stage with bids for Western brands from Volvo and Hummer to Saab, but there are doubts these inexperienced firms can manage the transformation such deals would bring.

General Motors is prepared to sell its European carmaker Opel to Canada's Magna, two people familiar with the negotiations told Reuters on Thursday.

General Motors was set to end months of suspense over the fate of its Opel unit on Thursday and announce whether it plans to sell the European carmaker to one of two rival bidders.

General Motors was set to end months of suspense over the fate of its Opel unit on Thursday and announce whether it plans to sell the European carmaker to one of two rival bidders.

General Motors was set to end months of suspense over the fate of its Opel unit on Thursday and announce whether it plans to sell the European carmaker to one of two rival bidders.

The Opel trustees are set to make a decision on Thursday about the future of General Motors' European business should GM decide to sell it to an investor, a source close to the matter told Reuters.

Opel workers are preparing mass protests if its parent General Motors fails to pick Canada's Magna as the buyer for the European carmaker, a labor leader said ahead of a news conference scheduled for Thursday.

General Motors Co shook up its management and dispatched a negotiator on the sale of its Opel unit to Berlin after a watershed two-day board meeting under the direction of Chairman Ed Whitacre, people familiar with the proceedings said.

General Motors Co's board concluded a two-day meeting in Detroit on Wednesday and dispatched the automaker's negotiator on the sale of its Opel unit to Berlin ahead of announcements scheduled for Thursday in Germany, people familiar with the proceedings said.

Germany's government would expect General Motors to repay a 1.5 billion euro ($2.2 billion) state loan if the carmaker calls off the sale of its Opel unit following a board meeting on Wednesday, German Finance Minister Peer Steinbrueck said.

The U.S. government should consider a trust for its stake in General Motors Co and Chrysler to ensure independent oversight and facilitate an exit strategy, a congressional watchdog found on Wednesday.

Germany's government would expect General Motors [GM.UL] to repay a 1.5 billion euro ($2.2 billion) state loan if the carmaker calls off the sale of its Opel unit following a board meeting on Wednesday, German Finance Minister Peer Steinbrueck said.

Chinese automaker FAW is set to help finance luxury sportscar maker Koenigsegg's planned purchase of Saab Automobile GM.UL, a Swedish newspaper reported on Wednesday without disclosing its sources.

China's largest automaker SAIC Motor group (600104.SS) may take a passive stake in Saab Automobile [GM.UL] by teaming with luxury sportscar maker Koenigsegg, a source with knowledge of the situation said on Tuesday.

General Motors Co GM.UL Chief Financial Officer Ray Young is expected to leave the automaker as part of a shake-up of its finance operations, the Detroit News reported on Wednesday.

The Obama administration should consider a trust for its stake in U.S. auto companies to ensure rigorous independent management and facilitate a way out for taxpayers, a government watchdog found on Wednesday.

State-run Beijing Automotive Industry Holdings will take a minority stake in Koenigsegg as part of the Swedish luxury carmaker's purchase of General Motors' Saab unit, in the latest push by a Chinese auto firm to secure a global footprint.

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Germany expects General Motors to pay back a 1.5 billion euro loan made to help Opel if GM keeps its European unit, Finance Minister Peer Steinbrueck was quoted as saying in a newspaper interview published on Wednesday.

The board of General Motors Co began meeting in Detroit on Tuesday as the German government stepped up pressure on the automaker to clarify its long-term plans for its European Opel operations.

The cost to General Motors Co of keeping its European Opel unit could run $1.45 billion higher than the overly optimistic estimate prepared by the automaker in June, according to a report from a financial adviser presented to GM's board on Tuesday.