GM May Sell Stock To Foreign Investors

By: The Associated Press
By: The Associated Press

A U.S. Treasury Department statement says that foreign investors could be asked to buy a stake in General Motors when it sells stock to the public.
GM would not comment Sunday on reports that talks are under way with China's SAIC about buying GM shares. SAIC is a Chinese government-owned automaker and GM partner.
The Treasury statement, dated Saturday, says investors will be sought across "multiple geographies."
The U.S. Treasury loaned GM about $50 billion to help it through bankruptcy protection last year. GM has repaid $6.7 billion and the rest was converted to a 61 percent government stake in the company.
The government hopes to get its money back with a stock offering that could come in November. Foreign investment in U.S. companies is common.


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