Opel to make 1200 GMT announcement on restructuring

Newswire

FRANKFURT, May 21 (Reuters) - Opel Chief Executive Nick Reilly and labour leader Klaus Franz have called a joint press conference for 1200 GMT to inform on "significant progress" in the restructuring of Opel, the carmaker said on Friday. The two sides have been negotiating over management's demand for 265 million euros ($329 million) in annual wage concessions, a key obstacle towards receiving possible loan guarantees from Germany worth over 1 billion euros. Labour and management wanted ...

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