Chinese car deal raises hopes for MG revival

Newswire

By Fang Yan SHANGHAI, Dec 27 (Reuters) - A deal struck this week puts a venerable British motoring brand in the hands of China's top car maker, raising hopes that Shanghai Automotive Co might do for MG what Germany's BMW did for the Mini. Shanghai Auto on Wednesday agreed a $286 million dollar deal to acquire the vehicle and core auto parts operations of Nanjing Auto, an eastern China manufacturer which surprised car enthusiasts in 2005 by snapping up the MG brand and some other assets ...

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