Cars trek down from Samsung to Daewoo
Means all sorts of unsorted deals, particularly on the telco front
As part of a big deal in South Korea, Samsung will transfer its cars to Daewoo while the former will take over its electronics business. Who knows if telecomms are involved? Or President Kim's limo? Daewoo Electronics, a little known division of the major South Korean chaebol, is likely to allow Samsung to take its electronics division in return for a nascent business the other chaebol has. Daewoo makes money out of cars. Samsung doesn't. The latest shift in the big five chaebol (family conglomeratre) deals means that in the UK, Dixons and other subsidiaries of the company, may soon have to deal with another company. Both Daewoo and Samsung refused to comment at press time. ®
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