UPDATE 2-Shanghai Auto plans to buy UK's MG Rover - paper


(Adds quotes from story, background) FRANKFURT, Aug 23 (Reuters) - Shanghai Automotive Industry Corp (SAIC), China's largest carmaker, plans to buy privately held British automaker MG Rover in a bold push to grab a Western beachhead, the Automotive News Europe weekly reported on Monday. Quoting sources in England and China, the paper said SAIC would boost its ambitions to become the world's sixth-largest automaker by taking an initial equity stake in MG Rover, the size of which was still ...

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