EC reviews 800m pounds Rover sale to BMW
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.THE European Commission will review the planned pounds 800m sale of Rover by British Aerospace to BMW of Germany.
BAe announced the sale last month, fuelling speculation over the car company's long-standing links with Honda of Japan, which has a 20 per cent stake in Rover.
British Aerospace said that the European Commission's review was 'perfectly normal procedure' and it expected no problems. The Commission will decide by the middle of next month whether to approve the deal or launch a full investigation.
BAe said that BMW and Rover would together have 6 per cent of the European car market and that this was unlikely to be considered a threat to competition.
Earlier this week, Bernd Pischetsrieder, BMW's chairman, said the German group would invest at least pounds 360m a year in Rover for the rest of the decade.
Mr Pischetsrieder also said that the link with Honda was unlikely to be severed in the near future because the Japanese group's relationship with Rover was two-way, with Honda supplying motors, transmissions and design licences to Rover, while Rover supplied body panels for the Honda Accord and assembled Honda Concertos.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments