Though the South Korean government is urging General Motors to finish its negotiations
to buy Daewoo by the end of August, GM President and CEO Rick Wagoner said at
the weekend that there was nothing new to report, writes Joseph Cabadas.
The Daewoo deal isn’t necessarily in trouble, but it is a challenge to
try to work through all of the issues involved in purchasing the troubled Korean
automaker, Wagoner said, adding, "But I certainly haven’t given up
The South Korean government has the right to try to set a deadline, but GM
can’t set its goals based on a specific date, he said.
"I think we all want the negotiations move as fast as they can,"
Wagoner said. "It’s been taking a long time and we think (negotiations)
could be wrapped up more expeditiously than it’s rolled out so far, but
we have to have a deal that works for us."