The final agreement on the Opel will be signed no earlier than Nov. 3

According to him, the decision to sign a legally binding contract can be taken at a meeting of the Board of Directors of the American company on November 3. Smith said that the leadership plans to discuss the letter from the Minister of Economy and Technologies of Germany Karl-Theodor zu Guttenberg European Commission, in which he explains, does the buyer's choice for Opel from the German government financial assistance to 4,5 billion euros. "Taking into account the importance of the transaction to Opel, GM board of directors will soon hold a scheduled monthly meeting (3 November) to consider the letter Gutenberg and changes to the proposal of the consortium Magna-Sberbank, which have been made since his last examination on Sept. 9" - quoted Smith Agence France Presse. The representatives of GM on Sept. 10 announced an agreement to sell controlling interest in its German subsidiary Opel consortium Magna-Sberbank. At the same time it was signed and a preliminary agreement, bearing a recommendation that, after completion of the transaction the consortium will receive 55% of Opel, the labor collective of the company - 10%, and the GM reserves at its disposal 35% of the shares. Until recently, the signing of a definitive agreement on the division of Opel was delayed because of continuing intensive consultations between management and union representatives of the consortium automaker in Spain and Britain over the company Magna planned job cuts. The original plan Magna, part of the restructuring of European plants Opel intended to dismiss 10,5 thousand of 55 thousand, including 4,7 thousand in the UK, 4.1 thousand in Germany and 1.7 thousand in Spain. Later executives Magna reduced the number of planned layoffs in Spain to 1.35 thousand people. Last week, representatives of the consortium Magna-Savings Bank announced changes in the restructuring plan in connection with the protests voiced by the workers at Opel plants across Europe. Magna and Savings Bank announced that guarantee the preservation of 70% of production capacity in the period from 2010 to 2013 and also undertake to invest in the development of the plant in Zaragoza.