UPDATE 2-General Motors will not bid for Chrysler-source

Newswire

(Rewrites with source familiar with the matter, adds detail) LONDON, March 27 (Reuters) - General Motors Corp. is unlikely to make a first-round bid for DaimlerChrysler AG's Chrysler unit, leaving just private equity firms and auto-parts supplier Magna in the running, a source familiar with the matter said on Wednesday. General Motors is more likely to keep a watching brief on the bidding process and consider buying any spare assets that buyout firms do not want, the source added. The ...

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