June 1 (Reuters) – Germany is likely to make a final decision on whether to grant state aid to General Motors’ Opel unit at the end of this week or the start of next week, German Economy Minister Rainer Bruederle said on Tuesday.
Bruederle noted that a steering committee due to assess the matter would meet on Friday. A separate panel of independent economic experts had offered a “very critical” opinion on the bid so far, Bruederle added.
Loss-making Opel is seeking state aid for its turnaround plan, but GM’s strong balance sheet and its return to profitability from bankruptcy in just 12 months is undermining the arguments for state aid from its subsidiary. [ID:nLDE6490DY]
(Reporting by Gernot Heller, writing by Dave Graham)