UK: Rover in euro-policy reversal – report

By just-auto.com editorial team | 19 September 2000

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.

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.