The U.S. Treasury may sell all of its stock in automotive giant General Motors (NYSE:GM) within the next year, according to a report in The Wall Street Journal that cited an anonymous executive at the Treasury.
The timing of the sale hinges on GM’s performance during the next year, as well as the fluctuations of the markets on the whole, according to the report. Previous reports from Treasury officials had indicated that the government would seek to get out of the deal by the 2012 presidential elections, which will happen in November of next year.
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GM came out of its government-sponsored bankruptcy in November 2010 after an historic $23.1 billion IPO.