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| Version 0 | Version 1 |
|---|---|
| Opel talks break down in Berlin | Opel talks break down in Berlin |
| (20 minutes later) | |
| All-night talks in Berlin about the future of Opel and Vauxhall have broken down without reaching a decision about who should buy GM's European unit. | All-night talks in Berlin about the future of Opel and Vauxhall have broken down without reaching a decision about who should buy GM's European unit. |
| Officials blamed the delays on the revelation that Opel would need an extra 300m euros ($415m; £260m) in short-term funding. | |
| The German government wanted more information from GM and the US Treasury before choosing a preferred bidder. | The German government wanted more information from GM and the US Treasury before choosing a preferred bidder. |
| But one of the bidders has pulled out, leaving Fiat and Canada's Magna. | But one of the bidders has pulled out, leaving Fiat and Canada's Magna. |
| The US investor Ripplewood Holdings has withdrawn from the process. | |
| The German government expects to receive the extra information it needs by Friday. | |
| But there are tight deadlines involved, with the sale of GM Europe a key part of General Motors' reorganisation plans. | |
| GM has a 1 June deadline from the US government to either restructure its debt or declare bankruptcy. | |
| The rejection of GM's plans by its bondholders has made bankruptcy a more likely option. |