VW holds its tongue about LIN buy-up
8th February 2001, Page 16
8th February 2001
Page 16
Page 16, 8th February 2001
— VW holds its tongue about LIN buy-up
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• Volkswagen is refusing to confirm reports that it has progressed significantly in its bid to buy Daewoo's stake in LDV.
Poland's deputy economy minister Edward Nowak said VW had signed a "preliminary accord" to buy all or some of the WV shares, according to a report in The Birmingham Post
But the German manufacturer would not confirm the truth of the reports and so bring an end to the long period of rumour surrounding negotiations and the future of LDV.
LDV spokesman Hazel Crawford says: 'We were quite surprised to see the story; it didn't come from us.
"LDV is keen to get its long-term strategy sorted out—negotiations are continuing."
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Hazel Crawford, Edward Nowak