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SAIC delays purchasing MG Rover
www.chinanews.cn 2005-04-08 14:45:51
The U.K.-based MG Rover Group failed to obtain a 100 million pound loan
from the U.K. government on April 7th. As the sole large car manufacturer
in the U.K., MG Rover and its Chinese counterpart Shanghai Automotive
Industry Corporation (SAIC) hardly convinced the British government of
their profitability. Thus, Patricia Hewitt, Secretary of State for Trade
and Industry, sent out a negotiation team to SAIC last Wednesday to save
the possible partnership between the two car makers. SAIC announced a
delay in purchasing the MG Rover Group.
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