GM Korea declines to confirm media reports that an informal offer has been made to purchase a 17% stake in the auto maker currently held by the Korea Development Bank. The move would boost General Motor’s ownership in its Korean subsidiary to 94%. Korean media say Tim Lee, GM vice president and president-International Operations, made an “informal bid” to acquire the stake in an Oct. 19 meeting in Seoul with KDB President Kang Man-soo. GM Korea spokesman Haeho Park ...
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