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Keyword: mg

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  • Chinese car giant could save MG Rover

    02/22/2005 11:41:43 PM PST · by MadIvan · 17 replies · 1,107+ views
    ITV News ^ | February 23, 2005 | Staff
    Chancellor Gordon Brown has promised to do everything possible to secure an MG Rover tie-up which could save 6,000 jobs.Mr Brown met the Chinese premier Wen Jiabao and finance minister Jin Renqing to push the case for the partnership between MG Rover and Shanghai Automotive Industry Group. The deal with the state-owned car company is seen as the last chance to safeguard the future of Rover's West Midlands plant and its 6,000 workers. Shanghai Automotive's proposed £1 billion investment in Rover is awaiting approval by its owner, the Shanghai city government, and by the National Development and Reform Commission, which...
  • Chinese car group's takeover of Rover hits snags

    02/06/2005 10:50:45 PM PST · by HAL9000 · 3 replies · 403+ views
    Agence France Presse | February 7, 2005
    BEIJING: Shanghai Automotive Industry Corp's (SAIC) planned purchase of troubled British car firm MG Rover has run into difficulties with Chinese regulators stalling on a decision, the Financial Times reported. It said state regulators are resisting British pressure to fast track approval, angered by Rover's decision to reveal it was in negotiations with SAIC, China's largest state-run automaker. For the deal to proceed, SAIC needs approval from the Shanghai city government, its owner, and from the National Development and Reform Commission, which is responsible for foreign investments by state-owned companies. However, Rover's decision to reveal it was in talks...