US Treasury announced it had sold in June almost $2 billion GM stock, as it has reduced the forecast of losses on the $85 billion bailout to around $17.9 billion.
As GM’s stock price increased the US Treasury losses forecast dropped almost $2.5 billion since the beginning of the year. Last month the government sold 58 million and 60 million GM shares, reducing its stake to around 160 million shares. The US Treasury, which initially owned 61% of GM, was having 500.1 million GM shares back in December.
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