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UPDATE 1-German EconMin sees in-depth EU probe of Opel deal

Fri Jul 3, 2009 4:30pm IST
 
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* Berlin expects EU to launch Phase II antitrust probe

* Head of Opel task force sceptical about Magna's concept

* Expects to get Opel business plans by mid- to end-July

* Says no in-depth probe planned for state aid

By Christiaan Hetzner

MUNICH, July 3 (Reuters) - A top German government official warned bidders for Opel on Friday to develop a business plan that can meet European Union guidelines on state subsidies because Berlin expects an in-depth anti-trust probe of any deal.

"Yes, clearly," Deputy Economics Minister Jochen Homann told reporters when asked whether he counted on Brussels examining any deal under a lengthier, so-called 'phase II' investigation.

He declined to specify what issues might concern EU competition authorities since the German government is still awaiting a business plan for a takeover of General Motors' GMGMQ.PK Opel, which he hoped to get by the end of July.  Continued...

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