According to Russian daily Vedomosti, General Motors (GM) once again failed to reach a decision on a strategic investor for Opel last Friday. GM is currently considering all options, including rejecting all pending offers. The postponed decision regarding the disposal of Opel’s assets at least partly relates to GM’s improved condition and rising car sales figures. According to Sberbank representatives, the decision must be made within the next week and a half. Our view: We view the investment in a non-core business such as Opel as strategically negative for Sberbank. There are also likely to be concerns that the deal has been politically influenced. We expect a neutral trading impact on the stock’s price today.