Billionaire Kirk Kerkorian has cut his stake in General Motors for the second time, reports CNBC-TV18.
Speaking on this move, George Magliano of Global Insight said that after GM's alliance with Renault-Nissan fell through, Kerkorian was perhaps looking at other options to invest money.
"He (Kerkorian) is liquidating his position if he hasn't already. With the Nissan-Renault JV falling through and GM management beating him off, he feels that he can't maniuplate the board, and he is moving rapidly and looking elsewhere," said George Magliano.
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"He (Kerkorian) is liquidating his position if he hasn't already. With the Nissan-Renault JV falling through and GM management beating him off, he feels that he can't maniuplate the board, and he is moving rapidly and looking elsewhere," said George Magliano.
