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GM in talks to boost stake in China JV - paper

SHANGHAI, Jan 18 (Reuters) - General Motors Corp. GM.N intends to raise its stake in its commercial vehicle venture in southwestern China as the giant seeks to boost its sales in emerging markets, the Shanghai Securities News reported on Friday.

GM is in talks with the parent of Shanghai-based SAIC Motor Corp 600104.SS to raise its stake in SAIC-GM-Wuling, a three-way tie-up between GM, SAIC and Liuzhou Wuling Automobile, the newspaper said, citing unnamed sources.

Officials at GM in Shanghai and SAIC, China’s largest automaker, declined to comment.

The U.S. automaker now holds 34 percent of the venture, a major player in the minivans and mini-trucks market. SAIC holds a 50.1 percent stake in the partnership, while Liuzhou Wuling, based in the southwestern region of Guangxi, has the remaining 15.9 percent interest.

The paper did not mention GM’s targeted stake in SAIC-GM-Wuling. It cited GM’s China chief Kevin Wale as saying the U.S. automaker was still weighing various options, adding that no timetable for any move had been determined.

“The negotiation is fairly complicated,” Wale was quoted as saying.

GM and SAIC run a major car venture in Shanghai, making Buick, Cadillac and Chevrolet models.

Reporting by Fang Yan, editing by Ken Wills

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