May 1, 2009 - 4:31am
On Friday a top executive at General Motors reported that GM will discuss with the Korean Development Bank the selling of a stake in GM Daewoo if that would help the South Korean automaking unit in the long term.
"If that helps GM Daewoo in the long term, we will talk about that with the KDB," said Nick Reilly, President GM Asia Pacific.
Earlier some media reports speculated that KDB had requested a 30 percent stake in GM Daewoo but Reilly denied the rumors saying: “That is not true.”
Meantime on Thursday KDB representative stated that the state owned bank plans to increase it stake in GM Daewoo where it is the second shareholder after GM. The bank owns a 28% stake while GM has a 51% stake.
"If that helps GM Daewoo in the long term, we will talk about that with the KDB," said Nick Reilly, President GM Asia Pacific.
Earlier some media reports speculated that KDB had requested a 30 percent stake in GM Daewoo but Reilly denied the rumors saying: “That is not true.”
Meantime on Thursday KDB representative stated that the state owned bank plans to increase it stake in GM Daewoo where it is the second shareholder after GM. The bank owns a 28% stake while GM has a 51% stake.