GM in talks to raise stake in SAIC-GM-Wuling JV

General Motors is in talks to increase its stake in a Chinese joint venture that makes small cars and vans, The Wall Street Journal reported, citing people familiar with the situation.
 
GM, which is pushing for a piece of the federal bailout program, is in negotiations with the government of Guangxi province in southwestern China to expand its holding in SAIC-GM-Wuling Automobile Co., which is majority owned by China¡¯s Shanghai Automotive Industry Corporation.
 
GM currently owns 34 percent of Wuling and is in talks to take part of state-owned Liuzhou Wuling Motors¡® stake in the venture, according to The Journal.
From: nytimes.com

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