China may kill Rover-SAIC deal; Chinese partner irked by premature leaks of financial details.(Shanghai Automotive Industry Corporation )

Automotive News Europe,  November, 2004  by Webb, Alysha

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Byline: Alysha Webb

The SAIC-MG Rover deal could be in trouble.

The Chinese government may kill it by not approving Shanghai Automotive Industry Corp.'s aim to take control of MG Rover.

And SAIC is irritated about extensive UK press reports citing MG Rover sources saying SAIC is investing [pounds sterling]1 billion (currently [euro]1.4 billion) and has already paid [pounds sterling]40 million to buy MG Rover technology.

SAIC insists the agreement has not been finalized and that no money has changed hands yet.

"There is no agreement with regard to the form, the ...

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