Chinese “Not Interested” In MG Rover

The UK Government and the administrators were informed this morning that SAIC “are not willing to acquire either the whole or parts of the MG Rover or Powertrain businesses on a going concern basis out of administration, nor are they willing to establish a UK joint venture incorporating the whole or parts of the MG Rover or Powertrain businesses.”

The administrator, PWC, has told the Government that it will not be applying for any further government loan to stave off redundancies at the company.