MG Rover faces Chinese buy-up

British car manufacturer MG Rover, which has its main plant in Birmingham, could soon be bought by Shanghai Automotive Industry Corporation, China's largest passenger carmaker.

The buyer will likely be China's largest passenger carmaker, Shanghai Automotive Industry Corporation, or SAIC.

SAIC is expected to eventually take over the UK company, which was formed when German car-maker BMW sold the Rover Group in 2000.

An MG Rover spokesman says arrangements for a far-reaching strategic relationship with SAIC are now going through the necessary regulatory approvals in China.

(CRIENGLISH.com)