GM Europe Willing To Sell Stake Or Form Alliance
19 February 2009 - 12:02AM
Dow Jones News
General Motors Corp.'s (GM) European division Wednesday signaled
it is open to selling a stake or a forming a strategic alliance
with a partner.
"If it makes sense for the sustainable success of GM Europe and
Opel, management is also willing to negotiate partnerships and
shareholdings by third parties," said the company and labor
representatives in a joint statement.
They added that the company will immediately enter talks with
labor representatives over a restructuring program aimed at shaping
a sustainable financial basis for the operations.
In a joint statement, the two sides said they will examine
possibilities to see how forced layoffs and plant closures can be
avoided.
Company Web site: www.gm.com
-By Christoph Rauwald, Dow Jones Newswires; +49 69 29 725 512; christoph.rauwald@dowjones.com