Daewoo: the talks go on

DISCUSSIONS are continuing to take place between General Motors and Daewoo, but the American company admits it does not know what the results will be. The Korean manufacturer is presently trying to restructure itself amid its debt crisis.

However, the possibility of General Motors buying the troubled vehicle maker appear to be a long way off. General Motors chief executive Rick Wagoner said at the Geneva Motor Show: 'Our approach is to try to discuss with them a strategy for mutual agreement. We don't know how that will resolve itself. Our interest remains unchanged. There are opportunities to co-operate, but the challenges are in the financial area. We having nothing worked out.'