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GM buyout best option says Daewoo chief

Daewoo Motor Company boss Lee Jong-dae said today that a sale to GM was the best option for the continued survival of the bankrupt carmaker.

According to news' agency Reuters, Jong-dae told reporters: "The fastest way to recovery would be a sale to GM. The greatest source of headache is the Polish FSO plant. But we have no plans to liquidate it."

Daewoo's plants continue to operate normally after the labour union officials unsuccessfully called for another strike. Union unrest has proved to be the biggest obstacle in sale talks between GM and Daewoo and threatens to bring disruption to the UK if supply of vehicles to here is affected.

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