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SEOUL, Aug 17 (Reuters) Videocon Industries Ltd and four others have submitted final bids to buy South Korean home appliance and television maker Daewoo Electronics, a source close to the deal said on Thursday.

Export-focused Daewoo Electronics is being put up for sale by its domestic creditors, who own 97 percent of the unlisted firm.

The source, who asked not to be named, declined to name the other bidders.

Daewoo's creditors plan to name a preferred bidder and one or two reserve bidders by next week, the source added.

Daewoo Electronics, which was placed under a debt rescheduling programme after its parent group went bankrupt in 1999, has since streamlined its business, focusing on televisions, air conditioning units and refrigerators.

Based in Seoul, Daewoo operates six plants in South Korea and 18 overseas units. Its assets totalled 1.65 trillion won ($1.72 billion) at the end of 2005.

REUTERS PV RK1400