The fleet industry is increasingly concerned over the proposed takeover of GM Europe by Magna International, the preferred bidder.

Two-thirds (66%) of respondents to a Fleet News poll said that the bid did not fill them with optimism, citing the involvement of LDV’s former owner the Gaz Group.

“I thought the Gaz Group were unable to support LDV, so how can they back Magna with the takeover of GM Europe?” asked John Longbottom, treasurer of TMD Friction UK.

LDV, the troubled midlands-based commercial vehicle manufacturer, went into administration recently after its Russian owner failed to find a buyer.

Magna is leading the Russian-Canadian consortium, which includes Gaz, to acquire a 55% stake in Opel and Vauxhall from GM, which is in Chapter 11 bankruptcy protection in the US.

But, despite voicing similar concerns of Gaz’s involvement, Stuart King, quality manager at PRP Optoelectronics, said: “All support for GM is welcome as its products are good. Magna should continue new lines of products, which look like big winners, and there is lots of customer goodwill for GM.”

GM last week moved to reassure fleets that it is still business as usual (Fleet News June 11).

Business secretary Lord Mandelson was in Germany last week to meet the country’s economic minister Karl-Theodor zu Guttenberg and officials from Magna.

He was seeking guarantees to safeguard jobs at Vauxhall’s Luton and Ellesmere Port plants prior to agreeing to a possible injection of taxpayers’ cash.

GM and European governments are believed to be keen to complete a deal with Magna.

However, both Lord Mandelson and Mr Guttenberg said that talks would continue with other interested parties, potentially including Fiat and a Chinese group, Beijing Automotive Industry Holding Co.