GM won’t sell Opel and Vauxhall (UPDATE)
General Motors (GM) has announced it has cancelled plans to sell its European car business Opel, including its UK brand Vauxhall, BBC reported.
The US giant said in a statement that its board had made the decision because of "an improving business environment for GM over the past few months".
GM had agreed to sell Opel and Vauxhall to Canadian car parts firm Magna.
The Magna deal had the backing of the German government, which had pledged 4.5bn euros ($6.7bn; £4bn) of loans.