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Opel asks European govts for $3.7 billion in loans

Originally published: February 9, 2010 9:26 AM
Updated: February 9, 2010 10:20 AM
By The Associated Press  MATT MOORE (AP Business Writer)

Quick ReadGM's Opel plans to invest $11 billion, seeks $3.7 billion in aid; cuts 8,300 jobs in Europe

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(AP) — GM's Opel unit asked European governments for billions of euros (dollars) in aid on Tuesday even as it formally presented a restructuring plan that will result in some 8,300 job cuts in Europe.

Opel, owned by General Motors Co., is seeking loans and loan guarantees to the tune of euro2.7 billion ($3.7 billion) as it invests euro11 billion in Opel through 2014 and have the company break...

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