Ford Motor selected sole bidder for Daewoo Motor

Ford Motor selected sole bidder for Daewoo Motor

SEOUL, South Korea - An official of South Korea's debt-ridden Daewoo Motor Co. briefs reporters June 29 on a decision by the company's restructuring committee to select Ford Motor Co. as the ''preferred bidder'' after an international auction. In the three-way auction, Ford Motor won over General Motors Corp., which had formed an alliance with Italy's Fiat SpA, and another alliance between DaimlerChrysler AG and South Korea's Hyundai Motor Co.

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  • ILEA000005213
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  • Kyodo / Kyodo News Images
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