No decision over Vauxhall bid

US auto giant General Motors has postponed making a decision on who should buy its European business, which includes Vauxhall

The troubled company said directors had met on Friday to discuss the options but “no decision was taken”.

Selection of a preferred bidder had been expected at the weekend. It is a two horse race between the Canadian car parts manufacturer Magna and Belgian financial group RHJ International.

The issue has caused tension between the British and German governments, with Germany offering £4bn in support to Magna, which has said it would cut less jobs there.

Last week Business Secretary Lord Mandelson called on GM to make a commercial, not political decision.

Vauxhall employs more than 5,000 people in its plants in Ellesmere Port and Luton.