Tuesday, December 02, 2008
GM's emergency meet with lenders
General Motors was in emergency discussions with its lenders at the weekend, reports The Sunday Times.
The company's chief executive Rick Wagoner is trying to sort a deal by tomorrow to secure £7.8 billion ($12 billion) in financial aid from the US government.
Wagoner is attempting to persuade some of its debt holders to swap part of the firm's $43 billion (£28 billion) debt pile for shares, to bolster their balance sheet.
DATED: 02.12.08
FEED: AM
