GM says IPO will happen "when conditions are right"

DETROIT: The United Auto Workers union said Thursday that General Motors will file a much-rumored IPO in mid-August when it releases its earnings, according to AP, but GM is keeping mum about the issue.

DETROIT: The United Auto Workers union said Thursday that General Motors will file a much-rumored IPO in mid-August when it releases its earnings, according to AP, but GM is keeping mum about the issue.

Renee Rashid-Merem, director of financial communications for GM, told PRWeek, "We will do an IPO when the conditions are right and the company is ready," echoing previous statements made to the press. She did confirm GM will release its earnings in mid-August.

United Auto Workers has since removed the claim about a GM IPO from its original press release, with media reports calling the situation a PR gaffe from the union.

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