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Friday, March 06, 2009

Mandelson Considering Bailing out Vauxhall to the Tune of £750 million

Lord Mandelson has signalled he is 'open to suggestions' after the Government was asked to take a £750million stake in Vauxhall.

The bail-out plan, which would save two British factories and 5,000 jobs, comes as Vauxhall's U.S. parent company warns it is on the brink of going bust.

Bosses at General Motors have submitted a master plan to float and effectively part-nationalise its European operations.

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