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UPDATE:Obama Has Yet To Decide US Stake In New GM-Source

(Adds comments on GM, and details on Chrysler bankruptcy and auto suppliers)

By Josh Mitchell

Of DOW JONES NEWSWIRES

WASHINGTON (Dow Jones)--General Motors Corp. (GM) needs a "very significant amount of capital" to survive and is closer than ever to entering a historic bankruptcy process that would be longer and more complicated than that of Detroit rival Chrysler LLC, a source close to the U.S.-led restructuring of GM said Tuesday.

The U.S. government is prepared to provide the financing necessary for GM to go through the bankruptcy, which would be designed to keep the company intact, with ownership stakes held ...

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