P.M. BRIEFING : GM Closing In on Hungary Deal
<i> From Times wire services</i>
DETROIT —
General Motors Corp. will decide soon whether to get involved in a joint venture in Hungary, a company spokesman said today.
John Pekarek said negotiations between the Hungarian government and the world’s largest auto maker are in advanced stages but that no final documents have been signed.
He declined to confirm or deny a report in today’s Wall Street Journal that said in a London-datelined story that GM will announce a $150-million joint venture to build cars and engines in the Eastern European nation.
It would be the first venture in Eastern Europe for GM and the first of any U.S. auto maker in Hungary. Pekarek said GM has no other negotiations going on with any Eastern European nation.
