The German car-maker BMW says it will start talks on Tuesday with a new consortium that wants to bid for its loss-making British subsidiary, Rover.
BMW says the talks with the Phoenix consortium are now the only chance of avoiding the closure of Rover, which employs thousands of workers — many at the Longbridge plant in Birmingham in the English Midlands.
Phoenix says it wants to keep Rover as a mass producer of cars, unlike Alchemy Partners, whose negotiations to buy the group collapsed on Friday.
BMW says it will retain a smaller plant at Oxford to build a new Mini. BMW bought Rover six years ago, but has failed to make it profitable.
Latest posts by Keith Adams (see all)
- The cars : Innocenti Mini 90/120 (P53) development story - 4 March 2021
- Opinion : Triumph’s missed supermini opportunity - 1 March 2021
- Car of the Month : March 2021 – Mark McGrady’s Rover 75 Tourer - 1 March 2021
Be the first to comment