China's BAIC submits non-binding Opel offer-sources
FRANKFURT, July 3 (Reuters) - Chinese state-owned automaker Beijing Automotive (BAIC) has submitted an indicative, non-binding offer for General Motors' GMGMQ.PK German carmaker Opel, sources familiar with the situation said on Friday.
It planned to make a binding offer by the middle of July, one of the sources added.
GM Europe declined comment.
Canada's Magna (MGa.TO: Quote, Profile, Research) is frontrunner to buy Opel. RHJ International (RHJI.BR: Quote, Profile, Research) is also in the running. (Reporting by Angelika Gruber, Writing by Michael Shields)
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