LIVE VIDEO: Mornings with Fox 43    Watch
 

Government sold almost $490M of GM stock in Feb

9:30 AM, Mar 12, 2013   |    comments
  • Share
  • Print
  • - A A A +

DETROIT (AP) -- The U.S. government has sold another chunk of its stake in General Motors Co.

The Treasury Department says in its February report to Congress that it sold $489.9 million worth of GM common stock last month.

The report dated Monday says the government has recovered about $29.8 billion of its $49.5 billion bailout of the Detroit automaker. That means taxpayers are still $19.7 billion in the hole.

The Treasury says the price per share will be revealed later.

GM stock sold in a range of $26.19 to $29.36 in February. At the midpoint of the range, the government would have sold roughly 17.6 million shares.

That means it still owns about 277 million shares. Those would have to sell for around $71 each for the government to break even.

Most Watched Videos