No agreement in Spanish Opel talks, unions say

No agreement in Spanish Opel talks, unions sayMadrid  - No agreement has been reached so far in talks on the future of a Spanish factory belonging to troubled carmaker Opel, trade union representatives said Tuesday.

Union representatives left the Madrid talks, which continued between Industry Minister Miguel Sebastian and Siegfried Wolf, the European chief of the Canadian-Austrian Magna consortium.

Carmaker General Motors has announced plans to sell off a majority stake in its European unit Opel to Magna.

The Spanish government is refusing to help finance Germany's rescue plan for Opel if Magna maintains plans to slash about 1,300 jobs out of a total of 7,000 at an Opel plant in Figueruelas, northern Spain.

Union representatives accused Magna of "intransigence" and said they were preparing protests against the planned job cuts.

The meeting followed talks between Sebastian and Magna representatives in Berlin on Friday.

Under the German rescue plan, Berlin is to provide 4.5 billion euros (6.5 billion dollars) in state-backed guarantees to help Magna restructure Opel.

Madrid is concerned that Opel production lines based in Spain could be moved to Germany.(dpa)