UK: MG Rover 'mistakenly' sold Chinese rights to TF sports car
Administrators for MG Rover have declined to comment on reports that the car maker has sold one of its key assets - the MG TF sports car, the BBC reported.
Citing a Financial Times report, the BBC said Rover mistakenly transferred the rights to the car when it sold China's SAIC the rights to the Rover 25 and 75 last year.
Receiver PricewaterhouseCoopers reportedly is currently investigating the legality of the £67 million deal for the two Rover models - Wednesday is the deadline for offers for parts of Rover.
The BBC said PwC set the 22 June deadline for selected applicants to submit their final offers for parts of the business - which is thought to include the sale of the intellectual property rights to the TF brand.
However, the FT report said that details of the transfer of the brand had been listed at the UK Patents Office register.
The FT reportedly added that a Patent's Office spokesman said any attempt to reverse the situation would require the permission of SAIC as legal owners.
A source close to the situation denied to the BBC that the brand had been sold, saying the only uncertainty surrounding the MG TF surrounded the rights to a small part of the car's engine.