GM wants to wrap up Opel sale quickly

General Motors is anxious to wrap up the sale of Opel, a top executive said Tuesday.

The bidding has been narrowed to Canadian auto parts conglomerate Magna--which is favored by the German government--and Belgian investors RHJ International.

"I think everyone is anxious to get this thing done," GM CFO Ray Young said, according to Automotive News.

GM has reservations about the Magna bid, in part because it wants to preserve its own technology from competitors. It's also believed RHJ would be willing to sell Opel back to GM.

The German government, which is expected to provide funding for Opel, wants to preserve as many jobs as possible and has backed a sale to Magna.

Opel has been a source of technology and platforms to GM and the linchpin of its European operations for 80 years.

By Greg Migliore