Beijing Auto signals interest in Opel stake

China’s Beijing Automotive Industry Corp (BAIC) has reportedly become the fourth company to express an interest in buying into Opel/General Motors’ European operations. According to the Financial Times, BAIC wrote to Commerzbank’s Dresdner Kleinwort a day after the bidding deadline. However, the report also characterised BAIC’s offer “more an expression of interest rather than a formal bid” quoting sources close to the deal. Italy’s Fiat, Canada’s Magna, and Brussels-listed RHJ International all entered bids for the strategic stake on Wednesday, for which GM is seeking about 650 million euros ($900 million).