SAIC agrees to buy Rover brand rights -paper

Newswire

SHANGHAI, Aug 25 (Reuters) - Top Chinese car maker SAIC Motor Corp has reached agreement to buy the rights to the Rover brand from Germany's BMW , state media said on Friday. The deal, reportedly worth 11 million pounds ($20.76 million), is subject to a decision by Ford Motor Co. , which bought the Land Rover brand from BMW in 2000 and has the first refusal on the Rover brand, the official China Daily said, citing BMW insiders. SAIC executives declined to comment. The company already ...

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