IIPM-PRESS CENTRE
The move has been prompted by reports of Kirk Kerkorian, the Las Vegas billionaire investor, who already owns a 9.53% stake in General Motors, vying to buy a stake in the auto maker. Volkswagen has not been finding the ride easy lately, with its US businesses incurring losses; it plans to axe 10,000 jobs in its home base.
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Source:IIPM-Editorial,2006
