General Motors (GM.N) is considering putting Opel up for sale again as management is losing confidence that the European arm will return to profitability, two German magazines reported. Auto Bild and Spiegel Online reported on Thursday, without citing any sources, that possible buyers could be Chinese carmakers or Germany's Volkswagen (VOWG_p.DE), which has almost 20 billion euros ($29.3 billion) available to spend. General Motors failed to comment on the reports. Opel also declined to comment, but its Chief Executive Karl-Friedrich Stracke called them "pure speculation" in a letter sent to employees. GM dropped plans to spin off Opel in 2009 after months of negotiations to sell it, and embarked on a drastic restructuring to get the unit, which lost $1.6 billion last year, back on track.
General Motors Company (GM) is a global automotive company. Shares of GM remained unchanged at $28.86. In the past year, the shares have traded as low as $28.39 and as high as $39.48. On average, 14675200 shares of GM exchange hands on a given day and today's volume is recorded at 0.
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