Ontario Prepares to Sell Off GM Shares

Ontario says it intends to sell its remaining shares in General Motors Co. over the next year.

The Canadian province currently owns about 37 million common shares and 5 million preferred shares in GM. The government acquired a stake in GM nearly five years ago as part of its contribution to GM's bankruptcy bailout.

The sale will be part of Ontario's review of government assets that also includes buildings in Toronto and the Hydro One utility company.