MG Rover has denied that SAIC has pulled out of talks over a joint venture.
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Earlier on Wednesday, industry sources close to the negotiations told just-auto that SAIC had pulled out of the talks and that the withdrawal was being interpreted as final rather than temporary. The move followed growing concern on the Chinese side at the precarious state of MG Rover’s finances.
MG Rover spokesman William Baldwin-Charles, told just-auto he had just – at about 11:45 BST – spoken to MG Rover’s negotiating team in Shanghai and they had confirmed that negotiations are continuing.
Both companies “committed” to deal
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By GlobalData
