FINACIAL TIMES GERMANY FTD.de, 7:46 pm GM and Magna agree in the Opel poker of Gregor Haake (Hamburg) and Timo Pache (Berlin) Long Opel had to shake, now the rescue is imminent: The car supplier has presented a new concept that probably convinced the Opel parent company. Both agree in principle – now the federal government is on the move. TO THE TOP Comment: Fiat – Thank you for your rejection (http://www.ftd.de/opinion/comment/:comment-Fiat-Many-D ank-f r-Ihre-Absage/520257.html) After meeting at the Chancellery: Magna and Fiat improve concepts according to (http://www.ftd.de/…/520159.html) Opel Poker at the Nobel Hotel: GM secretly talks to Magna (http://www.ftd.de/…/519635.html) Comment: Fiat – Thank you for your rejection (http://www.ftd.de/opinion/commentaries/:Comment-Fiat-Many-Thank-for-Your-Absage/520257.html) Agenda: A disastrous night shift (http://www.ftd.de/politik/germany/:Agenda-Eine-desastr se-Night shift/520154.html) Di For weeks now, Opel’s mother General Motors (GM), threatened by insolvency, and the policy for an investor’s entry into the German automaker, had struggled for weeks. In the meantime, it looked like there was hardly any hope. But at the last minute, a rescue from Opel still seems to succeed. There was a fundamental agreement between Magna and GM, said several people familiar with the situation of the news agency Reuters. “There is a cream. dpa also reported on government circles, Magna and GM had agreed. Also, the news agency AP from Detroit learned that there was an agreement. Because of the talks, a government meeting was postponed to Opel in the chancellor’s office. Government and representatives of the companies still discussed separately in the evening. According to information from economic minister Karl-Theodor zu Guttenberg (CSU), Magna presented new ideas for He stressed that the outcome of the talks was open. He was not sure whether an agreement could be reached at the summit scheduled for Friday evening, however, Vice-Chancellor Frank-Walter Steinmeier urged a decision to be taken on Saturday night. “I am working to ensure that a solution could be reached tonight,” said the SPD politician. However, the situation was still difficult. “We need a resilient, sustainable result for the future,” he said. “I am and remain confident that a solution can be found if everyone is aware of this responsibility.” Magna on the finish line Magna is likely to have the best cards for joining Opel at the summit with Chancellor Angela Merkel (CDU). Now the agreement still has to be approved by the federal government as guarantor for the necessary bridge financing. “There is little hope here, but no security yet,” said the Reuters circles. However, there is still a dispute with Washington about a trust model that should bridge the time from the expected GM insolvency to the investor’s entry. Price information + Charts GENERAL MOTORS CORP. REGISTERED SHARES DL 1,666 MAGNA INTERNATIONAL INC. REGISTERED SHARES CLASS A O.N. 0,79 USD -31.30 % [-0.36] 1T 5T 1M 3M 6M 1J 5J GENERAL MOTORS.. 0.79 USD -31.30 % MAGNA INTERNA… 23.14 EUR 0.17 % After Fiat had cancelled its participation in the summit, the government initially left open whether the top meeting could take place at all. Fiat CEO Sergio Marchionne said he was unable to submit a fair takeover proposal. He had not been able to get full insight into Opel’s books. In addition, new money claims would force GM’s “Fiat to make Opel The Turin Group remains open, however, to seek and find a possible agreement with GM and the Federal Government. A first round of negotiations with all Opel participants had failed on the night of Thursday on new financial claims of GM amounting to EUR 350 million and lack of collateral for state aid. FTD.de, 7:46 p.m. © 2009 Financial Times Deutschland