General Motors, the world's largest automaker, has offered to pay one trillion won to acquire South Korea's bankrupt Daewoo Motor. That's roughly seven-hundred-80 million U.S. dollars.

GM is not expected to take over the Korean automaker's aging main plant at Pupyong, but if the decision was made to include it on the itemized purchase agreement, GM would demand a further cut on the purchasing price.

The Hankook Ilbo newspaper said in its early Thursday edition that GM is also expected to assume two trillion won of Daewoo's 22.3 trillion won in liabilities, while offering stakes to creditors in exchange for debt write-offs.

The newspaper did not say where it got the information and in New York, Toni Simonetti, GM's general director of financial communications, said the company had no comment.

However, a person familiar with GM's expected negotiating stance said the figures cited by the newspaper are on the high side of any actual bargaining position.

GM on Wednesday submitted a bare-bones proposal to start formal negotiations to acquire Daewoo Motor.

He declined to elaborate on what parts of South Korea's third largest automaker GM would seek but said talks would move to a third country on Monday.