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Saturn Studying "Very Interesting" Proposal, Will Provide Update "Either Later this Week or Early Ne (Visit this link)
Jamie LaReau Automotive News: An investor group called Telesto Ventures says it wants to acquire Saturn's retail operations and provide dealers with vehicles from General Motors through 2011 and mostly overseas manufacturers thereafter. According to Telesto's press release, the products in the Saturn dealerships would have various brand names and could be sold elsewhere. Pappanastos says Telesto prefers small, fuel-efficient vehicles. "It's similar to a Best Buy model in that customers deal with Best Buy because of the customer experience not because they are the only place to buy a Samsung or a Sony TV," Pappanastos says. A GM spokesman said today the group's proposal is legitimate and "very interesting." Telesto spokesman John Pappanastos says his group is in discussions with several unnamed foreign manufacturers. "We will provide our retailers with an update about the feasibility study and where it stands and what the next step is," Janisse said. "We'll do that either later this week or early next week."
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