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GM: Bankruptcy filing appears increasingly likely

Henderson declined to comment on the status of negotiations with Italy's Fiat, which recently took a major stake in Chrysler and has expressed interest in GM's German-based Opel brand.

But while GM "certainly indicated a willingness to consider moving into a minority position" at Opel, Henderson indicated that it was less willing to offload the profitable Latin American business Opel operates.

"Our business in Latin America has been a very solid contributor," he said. "It's a business we know well and operate well.. and like very much."

GM will ensure that "any partner we pick in this business" is "reasonable and acceptable" to the German government because "we need their support in terms of funding," Henderson said.

GM also hopes to reach a deal to sell its hulking Hummer brand by the end of the month, he said.

It will take longer to sort out the sale of Saab, which is currently reorganizing under bankruptcy protection in Sweden.



Last Updated (Saturday, 16 May 2009 20:51)

 

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