SAIC Motor Corp. is “closely watching the progress” of the initial public offering of General Motors Co. as it is in talks to purchase a stake. SAIC’s spokeswoman Judy Zhu said, “As a strategic partner of GM, SAIC wishes the success of the GM IPO.” Reuters reported on Sept. 18 that according to its sources, SAIC, GM's partner in China, is in talks to buy a stake. It’s likely that GM's IPO will be open to overseas investors as the US Treasury aims to cut its stake in the company.
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