GM investor urges major tie-up with Nissan and Renault

[Yeo]

DETROIT (Reuters) -- One of the largest investors in General Motors Corp. urged the world's largest automaker Friday to consider a three-way partnership with Nissan Motor Corp. and Renault SA.

The news sent GM shares soaring 13 percent in pre-market trade on Inet.

In a letter to GM Chief Executive Rick Wagoner, Tracinda Corp., the investment arm for billionaire investor Kirk Kerkorian, suggested the automaker form a committee to "immediately and fully explore" the possibility of a partnership under which Nissan and Renault would buy a "significant minority interest" in GM.

"We believe that participating in a global partnership-alliance with Renault and Nissan could enable General Motors to realize substantial synergies and cost savings and thereby greatly benefit the company and enhance shareholder value," Tracinda wrote in the letter.

http://money.cnn.com/2006/06/30/news/companies/gm.reut/index.htm?cnn=yes
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[MG Man]

hmm...........kinda like an ailing parasite looking for a new host
I still vex wid GM for pulling the plug on development of the HSR.....plans wer in place for a 2.3 turbo 4WD HSR, but GM changed focus to the Manta 400........which in 1983 was still keeping pace with the Quattro.....and then GM killed that as well then they bought Lotus, failed miserably and sold it off to BUgatti, who at least set the ball rolling with the Elise.......ok, so I have some issues
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I know it's so, for I told me so

[Yeo]

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