UPDATE 3-GM plans Opel spin-off, needs billions from govts

Newswire

* Opel board approves restructuring plan * Opel, including Vauxhall, to be made independent unit * No decisions yet on extent of job cuts or plant closures (Adds comments from news conference) By Christiaan Hetzner RUESSELSHEIM, Germany, Feb 27 (Reuters) - The European unit of U.S. carmaker General Motors said it planned to spin off its German arm Opel and needed 3.3 billion euros ($4.2 billion) in state aid to avert job cuts and site closures. Following weeks of speculation ...

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