* Arguments for aid running out as GM returns to black * Merkel "personally embarrassed" by Opel sale collapse * No political incentives and few risks in case of a veto By Christiaan Hetzner FRANKFURT, May 24 (Reuters) - The turnaround at General Motors [GM.UL] from bankruptcy to profitability in just 12 months is undermining the efforts of its loss-making German unit Opel to win state aid, leaving GM to foot the bill. Almost a year to the day since GM sought protection from ...
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