Wild Rover

[Danny_Labrador]

I am probably seeing this all far too simply………… but would you buy a company that at the last minute in the acquisition negotiations suddenly appeared to need some cash, to tidy it over whilst it avoids insolvency, so that you can proceed and conclude the purchase for a very large sum indeed ?

Seems illogical to me…..why would SAIC be bothered now it can see that Rover would be just a big cash drain ? Where is the value that they are buying ?

There not supposed to do this with our money are they ?

Yours confused

 

[pvb]

Maybe...

The Chinese are by no means stupid. Maybe they're waiting for MG Rover to go bust, then buy what's left cheaply. The whole sorry saga defies belief. But 4 people have done quite nicely out of it!

 

[Prospero]

Re: Maybe...

Never underestimate the lengths a politician will go to when an election or by-election is nigh! Rover at £100 million seems quite cheapwhen you compare it with the Humber Bridge. The only good news from the taxpayers' point of view is that SAIC seem to have become more dubious having been ofered a bridging loan. Never mind we only have another four weeks of this sort of nonsense to go!

 

[Sans Bateau]

Re: Maybe...

The Chinese should hang on, the last time MG Rover sold it went for ten quid, of course that was before the days of ebay.

 

[Birdseye]

Re: Maybe...

£100 miliion loan. What do you reckon - is that £1000 per extra Labour vote or nearer £10000. And wasted as well since what is needed is long term support to bring out a new model range and re-build volume.

Sad really that they can never give the support until too late and then for the wrong reasons. Did the French let Renault go bust when it was in a parlous state? Or the Germans let BMW go. And what about the propping up of Skoda or SEAT or Fiat? Are we to be the only decent sized European country without a motor manufacturer? Apparently Yes.

Mind you, British Governments seem eager enough to subsidise Ford (with Jaguar) Nissan, Peugeot, General Motors - just not the British company.

 

[Sybarite]

Re: Maybe...

In the 1950's, BMC was the largest European manufacturer....