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Nanjing Auto Denies Rumor

2005-7-28 12:43:01 CRIENGLISH.com

Nanjing Automobile has denied the rumor that it is attempting to sell its majority stake in MG Rover.

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China's Nanjing Automobile has denied the rumor that it is attempting to sell its majority stake in MG Rover just three days after it won the contested auction.

National Business Daily of China got this statement from a consultancy company, which serves Nanjing Auto in an interview.

The British Financial Times reported Monday that Nanjing Automobile had approached the unsuccessful bidders for MG Rover in an attempt to sell a majority stake in the collapsed Birmingham carmaker.

The consultancy company denied the rumor and stressed that the most important thing for Nanjing Auto now is to organize a management team for the UK operations.

Stephen, head of law firm HerberSmith, which provides service to Nanjing Auto, also said there is no plan of a stake sell-off.

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