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The government’s investment in General Motors will take “several years,” General Motors’ new CEO Daniel Akerson said to CNBC.
Completing the process all at once, Akerson told CNBC, would be “unrealistic.”
The initial public stock offering is still expected to be offered within two months (possibly in time for midterm elections). In August, GM officially filed the IPO paperwork with the Securities and Exchange Commission, but no date was specified. It’s still unclear how many shares will be offered, but the U.S. government’s shares could be reduced by 20 percent, making it a minority owner.
Also at the end of the year, the Chevrolet Volt will begin arriving in dealers.
Akerson told reporters that he doesn’t see himself as a transitional CEO and — at least right now — is not considering drastic changes in management.
At what price would you consider buying stock in GM?
Source: CNBC
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