The future of Opel may be clearer as negotiations with the buyer of the brand will have results by next week. As of press time, the Italian car maker Fiat withdraws its interest with Opel citing some big risks the company may be subjected to with the deal.

Fiat walked away from the meeting with the government and GM set in Germany. The Italian automaker complained that they were not given full access to the books of Opel and cannot decide on possible effects of the potential merger.

Fiat CEO revealed that the company may be subjected to unwarranted and unnecessary risks if they will be required to supply emergency funds for Opel while the German government sets up the loan as promised.

Despite the turnout, Fiat still expresses their interest with the stakes at Opel.

With the sour development on the Fiat-Opel deal, the buzz of a Magna-Saturn-Opel merger is getting louder. The companies are said to be working on a tentative agreement. GM helps out in the negotiation for $2.1 billion in funding to keep Opel afloat.

Magna is favored as it is willing to take the risk of providing a bridge financing amounting to $770 million to $905 million while waiting for the help being set up by the German government which is a potential $2.1 billion.

The framework of the deal has been established and the negotiating teams aim to strengthen the foundation of this before meeting with the German Chancellor Angela Merkel for the signing of the memorandum.

Related reading: Fiat Car Blog – GM Auto Blog – Auto Industry News