Blog: And GM makes three?
Dave Leggett | 30 June 2006
Just when it seemed the week was going to end quietly, leaving us to cool off (we're having a heatwave) and get on with the serious business of contemplating the World Cup quarters and Wimbledon...
News just hitting the airwaves is that Kirk Kerkorian's Tracinda has written to the GM board requesting that it consider joining a three-way alliance with Renault and Nissan. I picked up vibes ages ago that Renault might be interested in some sort of partnership with Ford, but many people had GM down for a partnership with Toyota. Or is Kerkorian being mischievous, playing up whatever contact there has been with Renault? (Mr K keeping the pressure on the board? Hang on a minute, if there's speculation that Renault will take a minority stake in GM, what might that do to the share price...?)
For the moment it would seem that the letter from Tracinda is all we have to go on. Renault has said that it has no comment to make, but it would appear that Renault has had contact with Tracinda recently. What will the reaction of the GM board to this one be? Could be a busy weekend for some.
And next week should be interesting.
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