SAIC in talks to purchase a stake in General Motors

SAIC Motor Corp. is “closely watching the progress” of the initial public offering of General Motors Co. as it is in talks to purchase a stake. SAIC’s spokeswoman Judy Zhu said, “As a strategic partner of GM, SAIC wishes the success of the GM IPO.” Reuters reported on Sept. 18 that according to its sources, SAIC, GM's partner in China, is in talks to buy a stake. It’s likely that GM's IPO will be open to overseas investors as the US Treasury aims to cut its stake in the company.
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wins555 - 9/22/2010 10:56:35 AM

+2 Boost

GM future still uncertain.

FatnSassy - 9/22/2010 12:04:37 PM

+1 Boost

WHy open to foreign investors. GOD this country is becoming dumber by the minute. We are selling our country to the highest bidder. Bidders that we have made wealthy because of our consumption of their goods.

dlin - 9/22/2010 12:49:41 PM

+1 Boost

Don't worry. Same thing happened in 90'. See what happened to Japan? The only uncertainty is China is not US's colony.