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Article: Mandy and a 'German stitch-up' on Vauxhall; Deal puts 1,200 jobs at risk in UK.(News)
- Article from:
- Daily Mail (London)
- Article date:
- September 11, 2009
CopyrightCOPYRIGHT 2009 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Ray Massey Transport Editor
LORD Mandelson was last night accused of allowing a 'German stitch-up' of Vauxhall that will lead to thousands of job losses and pose a threat to at least one British car factory.
Vauxhall and its European sibling Opel were yesterday sold to a consortium headed by Canadian car-parts firm Magna, which has links to the Business Secretary's friend Oleg Deripaska, Russia's richest man.
At least 1,200 of the 5,000-strong Vauxhall workforce face the axe as part of Magna's restructuring plans, after the German government put up a [pounds sterling]4.5billion loan to ensure that its bid was successful.
But ...