China’s SAIC close to GM IPO stake buy-sources
Reuters
11/10/2010
Nov 10 (Reuters) – General Motors Co [GM.UL] is in the final stage of talks to sell equity to long-time Chinese partner SAIC Motor Corp (600104.SS) in conjunction with its landmark initial public offering, two people familiar with the matter said.
The two government-funded automakers are currently finalizing how much of a stake SAIC would buy in the top U.S. automaker after discussions involving technology sharing and SAIC’s ambitions to move beyond the China market, the sources said.
Any agreement between GM and SAIC would need Chinese government approval and could still fall apart, the sources cautioned.
The article continues at Reuters.
H/T Drudge
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