BUSINESS

U.S. Government Expected To Own 70% Of GM

06/26/2009 05:12 am ET | Updated May 25, 2011

DETROIT -- The government will hold a large share of a restructured General Motors after the company emerges from bankruptcy protection, and will provide G.M. with about $50 billion in financing so that it can reorganize, people with direct knowledge of the situation said Tuesday.

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