Ottawa sells its shares in GM; ends ‘temporary’ investment in automaker

OTTAWA – The federal government says it has sold its shares in General Motors, believed to be valued in the neighbourhood of $1 billion. Finance Minister Jim Flaherty says the shares were sold at the close of business Tuesday at market price, minus a small discount. Both Ottawa and the Ontario government acquired shares in GM in return for aiding the ailing automaker back in 2009.

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