Russian bank Sberbank sounds note of caution on Opel deal

Sberbank cautious on Opel

MOSCOW — Russian bank Sberbank is warning that its deal to buy carmaker Opel with Canada’s Magna International could still fall through, with a deadline to move ahead with the sale looming.

Russian news agencies are quoting Sberbank executive Denis Bugrov as saying he “did not exclude the possibility” that the deal might fall short of completion.

Sberbank and auto parts firm Magna International have a preliminary deal to buy Opel from General Motors. The deal envisages Sberbank taking a 35 percent stake and Magna a 20 percent stake.

But negotations have reportedly snagged over what shape the deal will take recently while rival outside bidders could still bid for the company before the agreement is inked in July.