GM CEO Open to Alliance

General Motors' (GM Quote) embattled CEO, Richard Wagoner, late Tuesday defended his handling of the idea for a landmark partnership with two foreign-based competitors.

In an interview with CNBC, Wagoner said he was "completely open" to exploring an alliance with French automaker Renault and Japan's Nissan, denying media reports that he initially had strong opposition to the idea. Those reports lent to a popular perception that Wagoner was strong-armed into considering the idea by GM's most prominent activist shareholder, Tracinda Corp.

"Nothing could be farther from the truth," Wagoner told the cable network. "From day one, when this idea was presented, I said we'd take a good look at it. ...