european subsidiary

Opel labor representatives called for work stoppages across Europe to protest General Motor Co.'s decision not to sell its European subsidiary, and Germany's government vowed to recover euro1.5 billion ($2.2 billion) it loaned GM to finance the sale.

GM's decision to sell European subsidiary Opel to auto parts maker Magna International was a political victory for German Chancellor Angela Merkel.

But the carmaker's future success is far from guaranteed.

General Motors Co. said a consortium of Canada's Magna International Inc. and Russian lender Sberbank would acquire a majority stake in its European subsidiary Opel.

General Motors Co. said Thursday that a consortium of Canada's Magna International Inc. and Russian lender Sberbank would acquire a majority stake in its European subsidiary Opel.