By Greg Robb
WASHINGTON (MarketWatch) -- The Treasury Department said Wednesday that it has agreed to be named as a selling shareholder of common stock in General Motor's registration statement for a proposed initial public offering. In a prepared statement, the department said it will retain the right, at all times, to decide whether and a what level to participate in the offering. Treasury owns 60.8% of GM's common stock as well as $2.1 billion of Series A preferred stock. The proposed initial offering will not include the Series A preferred stock.
