(BIZJOURNALS) — The U.S. Treasury Department is resisting a plan from General Motors Co. to sell the remainder of the government's stake in the automaker, the Wall Street Journal reports.
GM officials believe the company's reputation suffers from the government's 26.5 percent ownership of the company, stemming from the 2009 bailout, according to the Journal.
This summer, GM proposed purchasing 200 million of the 500 million shares the government owns in GM. Treasury would then sell its remaining shares through a public offering, according to the Journal.
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