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Opel union boss likens VW Magna threat to blackmail
Opel union boss likens VW Magna threat to blackmail
Posted Monday, Aug 17, 2009, 1:05 pm in Employee News
Opel labor leader Klaus Franz branded Volkswagen’s threat to pull business from supplier Magna International Inc. if it acquires Opel as “tantamount to blackmail,” Reuters reported.
Magna is in a close race with Belgian finance group RHJ International to gain majority control of General Motors Co.’s Opel unit, which is VW’s closest German rival, the news service said. VW CEO Martin Winterkorn said on Friday that VW viewed Magna’s Opel bid with suspicion and would reconsider doing business on complex components with the supplier, Reuters said.
Franz fired back at Winterkorn, hoping to quash a harmful debate in its infancy regarding whether a supplier like Magna should compete directly with its customers by acquiring a carmaker, the story said. “The threat not to award Magna with contracts is tantamount to blackmail,” Franz said. (Reuters/Automotive News)
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Rick
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