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. Last Updated: 07/27/2016

Samsung to Quit Cars

SEOUL, South Korea -- Samsung Group said on Monday it would try to sell its commercial vehicle unit to AB Volvo as it seeks to finalize a deal to hand over its passenger car company to the Daewoo Group.

The heads of the Samsung and Daewoo groups would meet this week to try to settle the deadlocked negotiations on Daewoo's takeover of Samsung Motors, spokesmen of the two groups said.

Domestic media have reported that the government has set this weekend as the final deadline for the negotiations.