GM Won't Sell Opel After All

European operations won't go to Canadian outfit
By Will McCahill,  Newser Staff
Posted Nov 3, 2009 7:47 PM CST
Opel headquarters in Germany.   (AP Photo)

(Newser) – General Motors backed out today on a deal to sell Opel, its European arm, to a Canadian parts supplier and its Russian banking partners. The GM board’s move reflects an uptick in the auto business, the Financial Times reports, and will also be a blow to the German government, which put great effort into the sale to Magna and its associates.