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Canada to work to deadline on GM deal -minister

Mon May 25, 2009 11:59pm IST
 
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TORONTO, May 25 (Reuters) - The Canadian government anticipates working right up until a June 1 deadline to try to reach an agreement with GM Canada over long-term funding for the automaker, Industry Minister Tony Clement said on Monday.

"We're not there yet, so there's no agreement to discuss with you and to examine the details with you about, because we have not formalized an agreement," Clement said.

The United States and Canada have given GM a June 1 deadline to win concessions from all its stakeholders and to prove it can be a viable company.

A tentative agreement on labor concessions between the Canadian Auto Workers Union and GM Canada was reached last week. Results of a union ratification vote on the deal will be released on Monday. (Reporting by John McCrank, writing by Ka Yan Ng; editing by Peter Galloway)

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