GM (GM) makes an informal offer to buy the 17% of its Korean unit held by state-run Korea...


GM (GM) makes an informal offer to buy the 17% of its Korean unit held by state-run Korea Development Bank, which has a veto over decision-making. A deal would boost GM's stake to 94% in the operations - which provide an important production base - and allow the car maker to restructure the unit. Separately, GM and Peugeot plan to announce a joint purchasing agreement soon, but dismiss union claims that they intend to build cars in Brazil.

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  • youngman442002
    , contributor
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    more bailout money going to foreign locals...
    22 Oct 2012, 07:45 AM Reply Like
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