|
|
Article: Rival bidders line up in beauty contest to buy MG Rover.(News)(Brief Article)
- Article from:
- Automotive News Europe
- Article date:
- July 25, 2005
- Author:
CopyrightCOPYRIGHT 2005 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Tony Lewin
The struggle to find a buyer for MG Rover took an unexpected turn last week as three competing bids emerged.
By last weekend - 15 weeks after the British carmaker went into administration - the three rival bidders had gone public with their product plans and even leaked sketches of proposed new models. The three wanted to sway public opinion and impress MG Rover administrators Pricewaterhouse-Coopers.
Just weeks earlier it had seemed unlikely that a credible buyer would ever emerge. A fire-sale auction of MG Rover's few remaining assets looked unavoidable.
PwC says it wants to get the best possible settlement for the ...