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German governor says Magna is best choice for Opel

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1 1,008 views May 22, 2009

The news isn't decisive, but it does give an indication of the sentiment in Germany

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The contents of the bids for purchase of Opel submitted by Fiat, Magna and Ripplewood Holdings on Wednesday - and BAIC on Thursday - haven't yet been disclosed, but today the governor of the German state where Opel is headquartered said he thinks Magna's plan is the best for Opel.

Though Hesse state governor Roland Koch didn't say exactly why the Magna plan is his favorite, he did imply that his preference is based on the plan's treatment of labor, reports the Detroit Free Press. "I think there is a certain ranking, in which the offer from the Magna group is certainly the one that is closest to the hopes and wishes of, I think, many in German politics but also among employees," Koch told Deutschlandfunk radio.

That likely means that Fiat's planned cut of 10,000 employees across Europe would include a fair number of Opel employees, while Magna's plan would result in smaller cuts in Germany and at Opel.

Labor is a key consideration for Germany and its politicians because Opel employs 25,000 workers within the country's borders.

The final decision, however, rests not with Germany's state leadership, but with the federal government. It's expected that whoever buys Opel, Germany will have to step up with several billion dollars in funding to help keep Opel running.