Confusion over GM purchase of Daewoo's Polish plants

Confusion surrounds the planned sale of Daewoo Motor's Polish plants to American car giant General Motors (GM), after Daewoo president Lee Jong-dae announced that GM is no longer interested in buying his company's foreign subsidiaries. Soon after Lee made his announcement, Daewoo spokesman Kim Jong-do appeared to contradict him, saying, "Currently, it is unclear which of the foreign assets will be taken over by GM." This view was backed by GM's spokesman in Poland, Zbigniew Lazar, who was quoted as saying that negotiations have only started, and it's not known which Daewoo companies will come under discussion. Meanwhile, deputy economy minister Edward Nowak announced that the Polish government had on Wednesday set up a special team responsible for reviewing the situation at Daewoo's Polish units, after they reported a 40% fall in sales in the first quarter of 2001. (Prawo i Gospodarka, p.1) A.Z.