Austrian-Canadian auto components manufacturer Magna International denies reports on plans to invest in Russia's car industry 600 million euros.

, said co-chairman of Magna Siegfried Wolf.

Information that 600 million euros supposedly to be transferred to Russia in support of Russia's car industry, does not correspond to reality, - said Wolf in a press conference.

Recall that the representative of Opel Trust Dirk Pfayl stated that funds amounting to 600 million euros allocated by Germany to assist Opel, should be directed to the development automanufacture in Russia. According to him, more than 600 million euros from 4.5 billion (state aid) should be used to modernize Russia's auto industry, according to the plan Magna.

Recall also the plans of the Austrian-Canadian company Magna, which, together with Russia's Sberbank acted buyer Opel, will be reduced at Opel plants in Europe 10,500 jobs, including about 4500 in Germany.

As reported, September 10 Board of Directors of General Motors (GM) approved the sale of 55% stake Opel consortium of Canada's Magna and Sberbank. GM willhave 35%, 10% receive workers' collective Opel.

Under the agreement, Opel would have open access to technologies GM, and, as before, will pay royalties for the use of licenses. The rights to develop the old Opel also will remain the property of GM, but Magna and Sberbank will have the right to enjoy all the new developments of the German engineering group.

Correction of RF down the stock market was short-lived, the evening almost all the losses have been played