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China's BAIC submits non-binding Opel offer-sources

FRANKFURT
Fri Jul 3, 2009 9:53am EDT

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FRANKFURT (Reuters) - Chinese state-owned automaker Beijing Automotive (BAIC) has submitted an indicative, non-binding offer for General Motors' GMGMQ.PK German carmaker Opel, sources familiar with the situation said on Friday.

It planned to make a binding offer by the middle of July, one of the sources added.

GM Europe declined comment.

Canada's Magna (MGa.TO) is frontrunner to buy Opel. RHJ International (RHJI.BR) is also in the running.

(Reporting by Angelika Gruber, Writing by Michael Shields)


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