Daewoo draws global players

Daewoo draws global players

SEOUL (AFP): South Korea's much-touted bid to auction off the
ailing Daewoo Motor Co. is sparking keen interest among global
players, a top economic official said Sunday.

"General Motors of the United States, Volkswagen of Germany,
Fiat of Italy and Hyundai Motor Co. of South Korea are now
interested in Daewoo Motor," Finance and Economy Minister Lee
Hun-Jai told a local television talk show.

He said the government would try to sell Daewoo Motor to a
bidder willing to help South Korea maintain its current car
production.

General Motors Corp., the world's largest carmaker, has been
tipped as the strongest candidate to acquire Daewoo Motor,
followed by U.S. rival Ford Motor Co.