Getting your player ready...
BERLIN — General Motors abandoned a months-long effort to win European government aid for restructuring its Opel and Vauxhall operations, saying that it needed to move ahead and would fund the overhaul itself. A week after Germany rejected its request, GM said it was withdrawing applications for loan guarantees totaling $2.2 billion from several European countries. The automaker said its own improved finances were a factor in the decision.
That will leave GM, which is majority-owned by the U.S. government, to shoulder the total funding needs of $4 billion rather than the $2.3 billion it had previously committed.
