Rover has reversed BMW’s policy of implementing billing systems in euros by asking to be billed in pounds, says the UK’s Telegraph newspaper (19/9/00).
The Telegraph – quoting a Rover spokesman – says that by ending this requirement that its suppliers conduct their business in the single european currency, Rover wants to support British business alongside gaining value.
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According to the UK newspaper, prior to selling Rover, BMW was in the process of reducing the number of British component suppliers. The decision to switch one-third of Rover’s supply base to Europe – in a bid to curb the company’s £2 million a day losses – is one which the Phoenix consortium hopes to reverse, says the report.
