Ending weeks of speculation and rumour, Zetsche said: “We are talking with some of the potential partners who have shown a clear interest but it is also true that we need to keep all options open.” He refused to name any of the interested companies. Zetsche said that the company required "the greatest possible flexibility so that we can identify and then professionally implement the best solution”. He added that he was pleased with progress so far and that everything was “going to plan”. The three parties rumoured to have made substantial formal bids are private equity groups Blackstone Group and Cerberus Capital Management, as well as Canadian parts supplier Magna International. DaimlerChrysler is expected to choose an exclusive negotiating partner by the end of the month and is rumoured to be looking for a sale in the region of $8bn (£4bn). The carmaker has already announced plans to cut 13,000 jobs and reduce production capacity by 400,000 units as part of its recovery plan.