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Malaysia will consider GM's proposal for stake in Proton - Minister


Published : Mon, 15 Jan 2007 04:23
By : Agencies
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KUALA LUMPUR (XFN-ASIA) - The government will consider General Motors' proposal for a stake in Proton if the US car maker puts in a bid, said Second Finance Minister Nor Mohamed Yakcop.

'They have shown interest in Proton, and if they submit a bid we will consider, ' the minister told reporters.

However, he declined to say whether GM has submitted its bid, adding that with interest shown by GM, there are now three foreign parties who are interested in Proton, the other two being Volkswagen AG and PSA Peugeot Citroen.

On Saturday, a New Straits Times report said GM is set to submit its bid for a stake in Proton, which may value the ailing auto maker at 10 rgt per share.

(1 usd = 3.51 rgt)

john.tan@xinhuafinance.com

jt/km

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