GM shares set to open lower after Kerkorian's sale

Newswire

DETROIT, Dec 21 (Reuters) - Shares of General Motors Corp. are expected to fall further in Wednesday trade after hitting an 18-year low on Tuesday, following the news of billionaire Kirk Kerkorian's investment arm selling 12 million GM shares. GM shares, already down 50 percent this year, fell 2.6 percent in pre-market trade on Wednesday after Kerkorian reduced his stake in the company to 7.8 percent from 9.9 percent late Tuesday. "Tracinda accumulating a 10-percent GM stake, much via ...

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