China's SAIC set to control venture with MG Rover

Newswire

(Recasts with comments from MG Rover spokesman) LONDON/FRANKFURT, Nov 20 (Reuters) - Chinese carmaker SAIC is set to control a crucial joint venture with Britain's MG Rover under terms of a cooperation deal expected to win approval from Beijing early next year, MG Rover said on Saturday. The deal calls for injecting around 1 billion pounds into the venture, providing crucial liquidity for the last British-owned volume carmaker and securing 6,100 jobs at the Longbridge-based group. It ...

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