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6/30/2006

Can Ghosen and Kirkorian Save the General?

Filed under: — GM Guy @ 7:45 am

Or would this end up like Chrysler, with the biggest of the big three foreign owned. Either way, this is interesting! From Automotive News today: (registration req.)

Kerkorian proposes GM, Renault-Nissan alliance

Investor Kirk Kerkorian is advocating an alliance of General Motors and Renault-Nissan, according to a securities filing.

In the filing, Kerkorian says that the Renault-Nissan alliance is receptive to buying “a significant minority interest” in GM. The filing also says that Kerkorian’s investment company, Tracinda Corp., of Beverly Hills, Calif., has discussed the matter with Carlos Ghosn, CEO of Renault and Nissan.

Kerkorian, who controls 9.9 percent of GM stock, sent a letter to GM Chairman Rick Wagoner on Friday “in which Tracinda proposed that General Motors’ Board of Directors establish a committee to immediately and fully explore, together with management, a possible opportunity to join the partnership-alliance between Renault, S.A. and Nissan Motor Co., Ltd.,” the filing said.

Barbarians at the gate? Or, saviour on a white horse? Time will tell.

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