Rover tipped to become beleaguered Daewoo-FSO's financial savior

According to unofficial information in Puls Biznesu, it now seems likely that the last chance for ailing car producer Daewoo-FSO could be Rover of Britain. Although the company's extraordinary general shareholder's meeting is to be held today, it is still unclear whether the representatives of Korean Daewoo Motor will attend. Car plant owner Daewoo Motor has failed to name a proxy that would represent them during today's meeting and as of yesterday, there was no legal confirmation of the registration of company representatives. Maciej Lesny, deputy Minister of Economy, announced that the name of a potential investor will be revealed at a press conference today. The new investor would take over the New Small Company, an enterprise to be created on the basis of the old Daewoo-FSO company in order to prevent bankruptcy. Although Lesny refused to provide further details, market insiders claim that the race for control of the company is likely to be won by Britain's Rover company. "After talks with General Motors, Hyundai and India's Tata concern, the British company seems to be preferred. A financial consortium was even created that will support Rover's investment in Poland with a sum of several hundred million dollars," said a source close to the deal. The costs of opening a new car production line at the Daewoo-FSO plant in Warsaw are estimated at around zl. 500 million. (Puls Biznesu, p. 4; Prawo i Gospodarka, p. 1) M.T.K.