Nanjing Automobile Group denies a report suggesting it is looking to sell stakes in newly acquired MG Rover. The Financial Times reported on July 26 that Nanjing has approached failed bidders for MG Rover to sell a majority stake in the bankrupt auto maker. They include Fraser Welford-Winton, who is the ex-chief of MG Rover's Powertrain engine unit. Nanjing acquired the company last week in a contested auction. A Nanjing spokesman tells Reuters it “is not our priority” to sell a majority ...
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