Hyundai Executive: Co Has No Interest In GM Stake If Bankrupt
23 April 2009 - 4:43PM
Dow Jones News
South Korea's Hyundai Motor Co. (005380.SE) will have no
interest in a stake in General Motors Corp. (GM) if the beleaguered
company goes bankrupt and is up for sale, a company executive said
Thursday.
"We don't have such a plan even though the U.S. market is very
important to Hyundai Motor," T.H. Chung, senior executive vice
president of Financial & Accounting Division, told Dow Jones
Newswires.
For 2009, Hyundai is targeting more than 5% market share in the
U.S., the world's largest automobile market, compared to an
accumulated 4.3% as of the first quarter, he said.
-By Kyong-Ae Choi, Dow Jones Newswires; 822-2198-2236;
kyong-ae.choi@dowjones.com