GM prepares to dispose of stake in European unit for nothing

Article reports that General Motors is prepared to part with a controlling stake in Opel/Vauxhall (and also Saab) for nothing but a pledge to invest directly in a new company formed from its European operations, April 2009. GM, which might file for bankruptcy in the US and is running short of cash in Europe, was talking to more than six financial and industrial groups about acquiring a stake in its European arm

ESO: Background information: GM's European arm lures investors http://www.europeansources.info/record/gms-european-arm-lures-investors/

Deutsche Welle, 17.4.09: Interest in GM subsidiary Opel heats up http://www.dw-world.de/dw/article/0,,4187632,00.html

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