Friday, October 06, 2006
GM calls it quits on alliance talks
GM and Renault-Nissan have scrapped talks on a proposed alliance after the GM board decided the move was not in the best interest of its shareholders.
GM’s talks with Renault and Nissan began in July at the urging of billionaire businessman and GM shareholder Kirk Kerkorian and a deadline was set for 15 October.
GM chief executive Rick Wagoner opposed the alliance believing it provided more benefits for Renault-Nissan than the US car maker.
DATED: 06.10.06
FEED: MT
GM’s talks with Renault and Nissan began in July at the urging of billionaire businessman and GM shareholder Kirk Kerkorian and a deadline was set for 15 October.
GM chief executive Rick Wagoner opposed the alliance believing it provided more benefits for Renault-Nissan than the US car maker.
DATED: 06.10.06
FEED: MT
