Fiat, who were said to be putting together a bid, decided to decline the option of attending negotiations, which were attended by the German government. Chancellor Angela Merkel, business ministers and representatives of the German states in which GM plants are located will held a meeting in Berlin on May 29 to discuss their potential approval of the deal.
GM Europe owns auto makers Opel and Vauxhall, while its American owners General Motors are widely expected to declare Chapter 11 bankruptcy on June 1. (Tyres & Accessories/Staffordshire, U.K.)