China SAIC says cleared to buy stake in GM JV


SHANGHAI, Feb 23 (Reuters) - SAIC Motor Corp said on Tuesday that it had won approval from the Chinese stock regulator to acquire a 1 percent stake in its Shanghai joint venture with General Motors [GM.UL]. SAIC said in a statement published in the official Shanghai Securities News that it had "recently received an approval notice from the China Securities Regulatory Commission" for the acquisition. ($1=6.83 yuan) (Reporting by Lu Jianxin and Farah Master; Editing by Jonathan Hopfner)

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