General Motors: No Plans To Sell China JV Shares To SAIC
February 12 2009 - 7:57PM
Dow Jones News
General Motors Corp. (GM) said Friday it has no plans to sell
shares in its China passenger vehicle joint venture, Shanghai
General Motors Corp., contrary to media reports.
"I just wanted to make our position perfectly clear - there is
no truth to the story that we are planning to sell (Shanghai
General Motors) shares to our partner SAIC," China-based spokesman
Henry Wong said in a statement.
GM operates a passenger vehicle joint venture with SAIC Motor
Corp. (600104.SH) in China. The U.S. auto maker is due to submit a
restructuring plan to the U.S. government Tuesday.
-By Patricia Jiayi Ho, Dow Jones Newswires; (8610) 6588 5848;
patricia.ho@dowjones.com