MG Rover is the only bidder for Daewoo-FSO - Official

"It's not true that the Polish government is currently holding negotiations with Kia and Hyundai. The only potential investor and the only company interested in taking over Daewoo-FSO is Britain's MG Rover," announced Maciej Lesny yesterday, the head of the governmental team formed to save the Warsaw-based car manufacturer. MG Rover yesterday offered a new investment proposition, which foresees an input of $125 million into the enterprise. In an interview with Rzeczpospolita, the deputy presidents of MG Rover, Nick Stephenson and Peter Beale, declared their willingness to introduce an entire production line for the Rover 45, together with the intellectual property rights and $125 million in cash as well as the MG Rover brand name and expertise. All components of cars produced will be acquired from production units in Poland. The investors also plan to continue production of the Daewoo-designed Matiz and Lanos for the next two years, for sale not only in Poland but also abroad. "We cannot wait longer than October 25. We believe that all the details can be ironed out in a couple of hours provided both sides really want to finalize the transaction," said Beale. (Rzeczpospolita, pp. B1, B2) A.K.