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GM makes 'final offer' for Daewoo

General Motors has made a final offer for Korea's bankrupt Daewoo Motor, according to Reuters.

"GM has submitted a final offer for Daewoo Motor, but the main Pupyong plant has been excluded," the news agency quotes a senior finance ministry official as saying.

The future of the Pupyong plant has always been a stumbling block in the negotiations to buy Daewoo Motor as it is not only old, but highly sensitive politically.

Korean officials were tightlipped in response to the GM offer but the Korean firm's main creditor, state-run Korea Development Bank, said talks with GM were continuing. "Both sides are trying to narrow differences in order to wrap up talks soon."

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