WASHINGTON, Nov 17 (Reuters) - President Barack Obama said on Wednesday General Motors Co's initial public offering was a "major milestone" for the turnaround of the company and the entire U.S. auto industry.
"Through the IPO, the government will cut its stake in GM by nearly half, continuing our disciplined commitment to exit this investment while protecting the American taxpayer," Obama said in a statement. (Reporting by Jeff Mason; Editing by Eric Walsh)