Diversified companies
Football drama "On Any Given Sunday" dominated the nation's holiday box office, securing the top spot with an estimated $14.2 million at 2,505 theaters from Friday to Sunday. Directed by Oliver Stone and starring Al Pacino as coach of a fictional Miami professional football
Diversified companies
Hyundai Motor's announcement to bid on Daewoo Motor's successful Polish assembly plant marks a significant move to expand its presence in Eastern Europe, a rapidly emerging auto market. With a production capacity of nearly 3 million units per year, Hyundai aims to establish a strong foothold
Diversified companies
Hyundai Motor, South Korea's largest carmaker, has announced its intention to challenge General Motors for the successful Polish operations of insolvent Daewoo Motor. This move is aimed at avoiding trade barriers to the European Union, Korea's biggest car export market, and is driven by Poland'
Diversified companies
The financial crisis of late 1997 had far-reaching consequences for Korea's auto industry, prompting warnings from world research institutes about overproduction. Amidst the turmoil, Hyundai Motor took over Kia Motors, marking a significant restructuring effort. Hyundai, along with other auto makers, successfully returned to pre-crisis profit levels thanks
Diversified companies
Global carmakers General Motors, Ford Motor, and DaimlerChrysler are intensifying their bids for Daewoo Motor, a South Korean automaker on the verge of bankruptcy. The three carmakers are racing against time to secure a significant foothold in Asia, where the car market is expected to surge in the next decade.
Diversified companies
As the ailing Daewoo Group undergoes debt restructuring, an international tender has gained momentum as the most likely method to find a new owner for Korea's second-largest automaker, Daewoo Motor. Recent developments, including reported expressions of interest from Ford Motor and others, have led industry experts to conclude
Diversified companies
South Korea's domestic creditor banks are poised to take over a maximum $2 billion worth of the $5 billion debt that ailing conglomerate Daewoo Group owes to over 200 foreign banks and financial institutions. This decision comes after the government determined that domestic banks have the necessary funds
Diversified companies
The passage of the controversial Integrated Broadcasting Bill at the National Assembly standing committee is expected to give a significant boost to South Korea's satellite and digital broadcasting industries. The bill, which has been pending for five years, provides a legal framework for digital and satellite broadcasting and
Diversified companies
Daewoo Telecom has joined forces with Alcatel to supply ADSL equipment to the Korean market, aiming to capture a share in the rapidly growing high-speed Internet connection market. Under the deal, Daewoo will provide telecom equipment capable of accommodating about 1 million users. The partnership is expected to strengthen Daewoo&
Diversified companies
Vodafone's aggressive bid for Germany's Mannesmann group has been dealt a significant blow after Hutchison Whampoa and the American Federation of Labor-Congress of Industrial Organizations (AFL-COI) jointly rejected the proposal. Hutchison Whampoa, which owns a 10% stake in Mannesmann, has long been a major player in
Diversified companies
Vodafone, a mobile phone giant, has suffered a setback in its bid for Mannesmann after Hutchison Whampoa, a Hong Kong investment group, and the American Federation of Labor-Congress of Industrial Organisations (AFL) rejected its £74 billion hostile bid. This rejection has led to a decline in Vodafone's shares,
Diversified companies
A hostile takeover bid by Vodafone for Mannesmann is moving forward, with British Prime Minister Tony Blair giving his endorsement to the deal, an unusual move for a senior politician. The auction process has been marked by controversy, with Mannesmann taking legal action against its advisor, Goldman Sachs, and Jurgen
