OREANDA-NEWS. April 28, 2009. Owner of Russian automotive group GAZ Oleg Deripaska is looking to pick up a 30% stake in German automaker Opel, Canadian newspaper Globe and Mail wrote, quoting its sources. However, the Russian group, which has been taking pains to settle its multi-billion ruble debts, denied any interest in acquiring the loss-making European auto producer.

The newspaper wrote that Deripaska, with support from Russian banks, could form a tandem with its recent partner, Canadian auto component manufacturer Magna. According to the newspaper, Magna eyes a 20% interest in Opel and Deripaska could take another 30%. “We’re not in any talks or exploring any possibility of buying into Opel... No board meeting has even been held to analyze this investment,” Elena Matveeva, deputy management board chairman at GAZ Group that unites Deripaska’s automotive assets, said.