U.S. Said to Be Reluctant to Sell GM Stock at Current Price

The U.S. Treasury Department is reluctant to sell part of its 33 percent stake in General Motors Co. to the company at this point because the price is too low, a person familiar with the matter said.

Executives at Detroit-based GM have discussed buying some of the Treasury’s shares or allowing all holders of common stock to sell back shares, said the person, who asked not to be identified revealing private discussions. The Treasury doesn’t want to sell GM while the shares are trading at 13 percent less than the $33 initial public offering price, the person said.