GM seeks improved offers for German arm, Opel

General Motors (GM) has called for improved offers for its German arm Opel, to rival the bid it has received from Canadian-Austrian automotive company Magna International.┬á  It is believed that Beijing Automotive Industry Holding Company aims to submit its own bid during July. Executives from GM in Europe met with representatives of Beijing Auto earlier this week after the Chinese company, which is government-owned, expressed renewed interest in purchasing Opel.  Beijing AutoÔÇÖs first approach, which was submitted after the original bid deadline for Opel had already passed, was not deemed to be serious enough.┬á GM in the US, which has recently declared bankruptcy, is encouraging improved offers despite having already agreed the deal with Magna, and will make the final decision on who buys Opel.┬á┬á GM has said that as its deal with Magna is not binding, it is seeking other bids in case the agreement falls through.┬á Several bidders, including Italian car maker Fiat, had also made offers before the Magna deal, all of which were rejected.  Opel employs 50,000 people in Europe, including 25,000 in Germany, of which Magna has said it would eliminate 10,000 and 2,500 respectively.┬á * ┬á┬á┬á┬á*┬á┬á┬á┬á *