SAIC Motor Corporation has said it had no plans for any overseas acquisitions.

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The comments came in response to a Hong Kong newspaper report that SAIC had begun talks with DaimlerChrysler about buying Chrysler.


“We have no plans for acquisitions at the moment,” SAIC spokeswoman Zhu Xianjun told Reuters.


The possible sale of loss-making Chrysler has fuelled market speculation on possible bidders, including China’s FAW and Chery Automobile, the report said.


But an FAW spokesman told the news agency he had no knowledge of any such move by his company while Chery [whose production alliance with Chrysler has just been approved by the DaimlerChrysler board] flatly ruled out the possibility of taking over its partner, the report added.

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