Germany's Opel has been sold – with a joint-Russian-Canadian bid the winner in the race to buy one of Europe's oldest and most well-known car-makers.Russia's biggest lender Sberbank and automotive giant GAZ – along with Canadian car parts firm Magna – are to buy Opel from US motor giant General Motors, which is filing for bankruptcy. The rescue plan was approved by the German government early on Saturday. “Of course nobody can exclude the risks, but I think we have found a responsible solution with private investors and interim funding from the state,” said German Foreign Minister Frank Walter Steinmeier. “It is a solution which preserves [Opel’s] locations in Germany and also preserves the highest possible numbers of jobs.”Experts believe that the deal is likely to revolutionize the Russian automotive industry.
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