UPDATE 1-GM shares, bonds rise on GMAC bidding news

Newswire

(Adds bond price information) DETROIT, Jan 30 (Reuters) - Shares and bonds of General Motors Corp jumped on Monday after sources said on Saturday that banks and investors are bidding for a controlling stake in its financial services unit. Hedge fund Cerberus Capital Management and Citigroup , the largest U.S. bank, have teamed up to bid for a controlling stake in General Motors Acceptance Corp., sources familiar with the situation told Reuters on Saturday. A second team of bidders ...

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