Hopes are growing that a deal between car maker MG Rover and China's Shanghai Automotive Industrial Corporation (SAIC) will soon come to fruition, the BBC reported on Wednesday.
Hopes are growing that a deal between car maker MG Rover and China’s Shanghai Automotive Industrial Corporation (SAIC) will soon come to fruition, the BBC reported on Wednesday.
The broadcaster said legal contracts are being drawn up over a joint venture between the two following the end of negotiations.
“We remain very confident of concluding an agreement,” a Rover spokesman told the BBC.
The UK government has pushed to encourage the partnership, which could spell a cash injection for Rover from state-owned SAIC of up to £1 billion ($US1.9 billion), the report noted.
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