Eleventh hour bid by SAIC and Rover consortium to takeover FSO

"On Saturday the SAIC supervisory board made a decision concerning the investment in the Warsaw plant. This means that the project has also been initially accepted by the government in Beijing, which is the main shareholder in the company," said one of the people who has been searching for a potential investor in FSO. Yesterday letters from China were allegedly received by members of the management board of FSO and Deputy Economy Minister Jacek Piechota. According to unofficial sources the consortium has only stated its wish to begin the due diligence process after which it will be able to place a binding offer for purchase. (Puls Biznesu, p. 9) A.K.