SAIC: Rover deal at 'advanced stage'
11 February 2005
Shanghai Automotive Industry Corp (SAIC) confirmed that talks on an alliance with Britain's MG Rover were at an "advanced stage" with the backing of Beijing. The alliance, reported to focus on a US$1.8bn cash injection for Rover, is seen as a make or break deal for the British carmaker desperate for funds to launch new models. SAIC is looking to Rover as a launch-pad into the European market.