Will Renault Go For Broke In Asia?
It's tempting. France's Renault has the inside track to take over South Korea's ailing Samsung Motors. For the expansion-minded Renault, a deal offers access to Korea's closed passenger car market, the second-largest in Asia after Japan. As an added plus, Samsung relies heavily on technology from Japan's Nissan Motor, where Renault is now running the show. And while General Motors and Ford face opposition to their competing bids to enter Korea by taking control of Daewoo Motor, the welcome mat is out for Renault. "A takeover by Renault appears to be the only way out," says Son Cheul Gyu, a Samsung deputy general manager.
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