China's SAIC says no plans now for overseas buys

Newswire

SHANGHAI, Feb 28 (Reuters) - SAIC Motor Corp. said on Wednesday it had no plans now for any overseas acquisitions, in response to a Hong Kong newspaper report that China's biggest car maker had begun talks with DaimlerChrysler AG about potentially buying its troubled Chrysler unit. "We have no plans for acquisitions at the moment," SAIC spokeswoman Zhu Xianjun said. Shares of SAIC's listed vehicle Shanghai Automotive Co. closed 9.4 percent higher on Wednesday, just below the 10 percent ...

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