Despite earlier reports that General Motors Corp. Chairman Rick Wagoner and other executives were opposed to forming an alliance with Nissan Motor Co. and Renault SA, GM's board of directors on Friday gave the green light to start negotiations that could lead to the world's biggest automaker alliance.
But many industry analysts and insiders are skeptical about the potential alliance, saying even if it comes to fruition none of the three companies can expect major benefits.
Some analysts see the alliance proposed by GM's major shareholder, billionaire investor Kirk Kerkorian's Tracinda Corp., as merely aimed at boosting GM's stock price in the short term.