GM sees more auto consolidation, possibly GMAC deal

Newswire

DETROIT, May 17 (Reuters) - General Motors Corp Chief Executive Rick Wagoner said on Thursday he expected more consolidation in the U.S. auto industry and indicated a merger of GM's former financial arm GMAC was possible. "I do expect to see further consolidation. I don't know who or where," Wagoner said, speaking at a business lunch in Detroit. He added, "I don't see a mad rush to privatize in the auto sector." It was the first time that Wagoner has spoken publicly since Monday's ...

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