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GM-Daewoo talks delayed
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August 13, 2001: 6:36 p.m. ET
World's largest automaker may not conclude Daewoo talks before fall
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NEW YORK (CNNfn) - Talks between General Motors and Daewoo Motors may not be resolved before the end of the third quarter, press reports said Monday.
Detroit-based GM, the world's largest carmaker, has yet to set a price for the bankrupt Korean carmaker, the Financial Times Web site reported. GM also has to decide whether any deal would include the Bupyong factory, west of Seoul.
The companies resolved some issues Monday during negotiations but failed to decide the value of the deal or the future of the Bupyong plant, the FT.com said.
Both Daewoo and GM (GM: Research, Estimates) could not be reached for comment.
GM is seeking to rekindle a 15-year relationship with Daewoo that ended in 1992.
GM confirmed in May that it would begin formal talks on buying the assets of bankrupt Daewoo Motor. GM is negotiating with the Korea Development Bank, which is acting on behalf of Daewoo.
Daewoo Motor is one of the more attractive assets being unloaded by its parent, Daewoo Group.
GM reservation's concerning the Bupyong plant include the aging facilities, its inefficiency and reputation for sometimes violent labor unrest, the FT.com said. 
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