It seems that Shanghai Automotive Industry Corporation (SAIC) is not going to be suckered into throwing serious money at the loss-making British car manufacturer MG Rover.
Confirming that the deal is dead, spinmeister Tony Blair told reporters: “It is possible still that there may be the opportunity of doing something with the Chinese company, although not the original prospect that was there a few weeks ago.”
The above quote is from a Guardian article titled “Blair offers glimmer of hope for Rover”.
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Guardian: Blair offers glimmer of blah blah
Previous Danwei entries: SAIC and MG Rover