CEO says company could start paying back government cash in 2010
29 October 2009

General Motors has no plans to ask for more government aid, according to CEO Fritz Henderson.

The US Treasury holds a 60 per cent stake in GM after advancing it $50bn (£30bn) in bailout and bankruptcy assistance but Henderson claims the firm will not need any more help.

"The amount of financing provided was sufficient," Henderson said in an interview. He also insisted that government is not involved in running the business.

"They are the major shareholders so they do want to be kept informed about how the business is going,” he stated.

Henderson added that the government has an "excellent chance" of seeing a return on its investment.

GM is expected to launch an initial public offering of its shares as early as next year in order to begin repaying the government.

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