Kerkorian May Increase Stake in G.M.

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The largest shareholder in General Motors said today that he may buy up to 12 million more shares in the company, and he urged its board to conduct a “strong” review of his proposal for a global alliance with two rival automakers, Nissan and Renault, after G.M. executives suggested that such an alliance was unlikely, the New York Times reports.

The shareholder is Kirk Kerkorian, who already owns 9.9 percent of General Motors through his investment company, the Tracinda Corporation. Mr. Kerkorian said in a letter today to G.M.’s chief executive, Rick Wagoner, that he is interested in purchasing 6 million more shares and may consider buying a further 6 million. Those steps would require regulatory approval because they would result in Mr. Kerkorian owning more than 10 percent of General Motors’s stock.


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