FROM ABC NEWS: Ford Motor Co chose China’s Geely as preferred bidder for Volvo Cars while Magna said it still hoped to clinch a deal to buy a majority stake in Opel from GM after a board meeting on November 3
The shake-up of a car industry pummeled by the deepest crisis in decades continued, as Italy’s Fiat readied for the November 4 presentation of the five-year plan it hopes will turn around struggling partner Chrysler in Detroit.
Top officials from Canadian auto parts maker Magna and GM’s European unit Opel said they were confident the long-awaited deal — which has been held up after last-minute EU competition concerns — would be sealed. MORE>
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