DETROIT (Reuters) - General Motors Corp , whose shares have plunged to a 58-year low amid the market turmoil, said in a formal statement that bankruptcy protection is not an option the automaker is considering.
"Clearly we face unprecedented challenges related to uncertainty in the financial markets globally and weakening economic fundamentals in many key markets," GM said.
"But bankruptcy protection is not an option GM is considering. Bankruptcy would not be in the interests of our employees, stockholders, suppliers or customers."
(Reporting by David Bailey, editing by Gerald E. McCormick)
