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GENERAL MOTORS BUYS IN 5M OF ITS CLASS E SHARES

General Motors Corp has spent $198m buying in 5m of its Class E shares, dividends on which are pegged to the performance of Electronic Data Systems, and says that it plans to buy another 5m in the market: reason for the buybacks is that EDS has been issuing further shares to make acquisitions, and GM wants to eliminate the consequent dilution in the value of each Class E share.

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CBR Staff Writer

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