Wednesday, June 03, 2009

Frank Stronach Plays it Cagey

Frank Stronach Chairman of Magna International (NYSE:MGA) and lead deal maker of the Opel purchase from General Motors was just interviewed on BNN news. They tried hard to get him to talk about the Opel deal but he refused to discuss it. Admitting that a memorandum of understanding has been signed and claiming that governments are twitchy he begged off all questions.

You keep hearing stories about China wanting involvement. You know Stronach has Russian partners but Frank does the talking. Are the Bear and the Dragon squaring off in a back room battle. Will the GM deal have a black swan component to it?

The China market is huge. Players are carving up tomorrows territories. In the mean time investors are focused on the short term mechanics of GM bankruptcy.