Foreigners Mull GM Options

Updated from 8:25 a.m. EDT

Automakers Nissan and Renault, whose alliance helped save Nissan from bankruptcy in 2000, apparently want to offer the same medicine to General Motors(GM Quote).

The boards of Japan's Nissan and France's Renault on Monday authorized exploratory discussions about the prospects of bringing GM into their alliance, following up statements made Friday by GM shareholder Kirk Kerkorian.

Kerkorian said in a federal filing Friday that Renault and Nissan, which are both led by French automotive executive Carlos Ghosn, would entertain letting GM into their partnership and possibly buy a stake in the Detroit firm. GM shares rose about 10% on the news as investors welcomed the possibility of new cash and even new management at the company, which lost $10.6 billion in 2005. ...