UPDATE 3-GE to sell bulk of finance unit, return up to $90 billion to investors

April 10, 2015 4:06 PM

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April 10 (Reuters) - General Electric Co said it would shed the bulk of its finance unit and return as much as $90 billion to shareholders as it becomes a "simpler" industrial business instead of an unwieldy hybrid of banking and manufacturing.

GE shares jumped 7.5 percent on Friday after the company outlined plans for substantially shrinking its GE Capital unit. The plan includes a buyback of up to $50 billion in GE shares, the sale of about $30 billion in real estate assets over the next two years and the disposal of more GE Capital oper...

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