Tuesday, August 25, 2009

GM's Hummer now a likely target of Chinese

General Motors may sign an agreement for the sale of the Hummer sport-utility vehicle business to Sichuan Tengzhong Heavy Industrial Machinery Co based in Chengdu, China this week, said two people familiar with negotiations.

The China firm's executives are expected to arrive in Detroit early this week for more negotiations with GM. Meanwhile GM's advisers are recommending the board consider spurning a German-backed sale of its Opel unit to retain a bigger presence in Europe and Russia.


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