Down to the wire, and nothing: German unions had set Opel a deadline until today to come to an agreement about the future of Opel. The unions had offered to forgo a 4.3 percent pay hike and waive future pay raises if Opel extends a moratorium on plant closures through 2016. Today’s deadline passed without an agreement, Reuters says.
German metalworkers are entitled to the 4.3 percent pay raise, but Opel unions deferred payments through the end of October. Union representatives will meet today to discuss how to go forward.
Also today, Germany’s anti-trust authority approved the alliance between GM and PSA, the Handelsblatt says. The agency decided that no market dominating tie-up exists. The agency did not investigate the bailout of PSA by the French government. That is Brussels’ job.