UK rallies to save Rover sale
31 January 2005
The British government is working to put together a last-minute financing deal to rescue a proposed buy-out of the troubled automaker MG Rover by Shanghai Automotive Industry Corp. (SAIC), the Observer newspaper reported. According to the report, the deal involves a range of sweeteners designed to seal the deal with the Chinese company, including grants, investments and tax-relief to prop up the car maker. The newspaper said British government departments had been instructed to put Rover at the top of the agenda in any meetings with Chinese officials.