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GE says does not expect Treasury investment

Jeffrey R. Immelt, chairman and chief executive of General Electric at an Ecomagination news conference at Universal Studios in Los Angeles, California May 24, 2007. REUTERS/Fred Prouser

BOSTON (Reuters) - General Electric Co GE.N does not expect the Treasury Department to offer to invest funds from a $700 billion fund to bail out the financial industry in its GE Capital arm, but would listen to a proposal if one were made, a GE spokesman said on Tuesday.

“This is not something we expect,” said Russell Wilkerson, a spokesman for the U.S. conglomerate. “If it were offered, we would evaluate it.”

The Wall Street Journal reported on Tuesday that the U.S. Treasury was considering investing funds from the $700 billion rescue program in a wide range of companies, including GE Capital and CIT Group CIT.N.

GE shares were up 6.6 percent, or $1.27, to $20.57 on the New York Stock Exchange.

Reporting by Scott Malone.

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