64: GM Exploring Sale of European Business

General Motors Co. hasn't turned a profit in Europe since the late 1990s. Still, the business is improving. GM's European division lost only $257 million in 2016 after $813 million a year earlier. That's why carmaker PSA Group, which owns Peugeot and Citroen, is in talks with GM to buy the business. Analysts estimate GM's European unit, known as Opel, could be worth about $2.8 billion. That may not sound like a lot, but the division brought in a whopping $18.7 billion in total revenue last year. Bloomberg reporter Ed Hammond and Executive Editor Jeff McCracken tell Alex Sherman why GM has struggled for so long in Europe and why it wants to finally exit the region.See omnystudio.com/listener for privacy information.