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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