The buckruptcy will be ended at General Motor or GM and it's true. It can be signed that the government plans to fully divest their remaining shares in the next 12 to 15 months, according to market conditions.
In a statement, GM CEO Dan Akerson said, "This announcement is an important step for a successful industrial salvage and remove the assumption that this is a government-owned company in the eyes of the consumer."
"It also demonstrates GM's confidence in progress and our future," said Akerson.
He added, "We work every day and be grateful that the taxpayers of the United States and Canada stepped forward to save the industry, and we are determined to show that the overwhelming support of them are not in vain."
STORY about bankruptcy of General Motors (GM) ended shortly after the company announced plans to buy back 200 million shares of the government of the United States (U.S. Department of the Treasury).
GM will pay U.S. $ 27.50 per share with a deal worth U.S. $ 5 billion. This will reduce holdings of Treasury to about 300 million shares, or about 19% of the company.
