SOUTH KOREA: GM-Daewoo refinancing still unresolved – reports

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The General Motors board has allowed the carmaker join its cash-strapped South Korean affiliate GM-Daewoo's new rights offer, CEO Fritz Henderson said on Thursday. He did not elaborate. Meanwhile, state-run Korea Development Bank (KDB) said it would not participate in the rights offering if the US carmaker did not meet its request for financial aid to its local unit. Full story...