PSA could close deal for Opel/Vauxhall next week

Media reports today say that the sale of General Motors’ (GMs) European subsidiary Opel to PSA Group could be announced early next week, possibly as early as press day at the Geneva Motor Show.

It is reported that PSA has to hold a board meeting before the acquisition can be announced, but it has also been said that there is still no guarantee a deal will go ahead, or that the PSA board will sign off on it.

A major obstacle is said to be a very large deficit in GM’s European pensions fund, which is being estimated as much as US$10 billion between Opel and Vauxhall.