MG Rover re-think on Daewoo-FSO after Malaysian car project crashes

MG Rover is considering the Polish market again after withdrawing from its Malaysian investment plan with Proton Holdings. It is rethinking the possibility of buying a stake in the Warsaw-based Polish car factory Daewoo-FSO, which is now managed by a Korean concern on the verge of bankruptcy, said MG Rover's spokeswoman. MG Rover, in turn, might soon be taken over by Shanghai Automotive Industry Corp (SAIC) that also plans to visit Poland's FSO factory with an eye on purchase. Jacek Piechota, deputy Economy Minister, who is responsible for selecting a new investor for FSO, said: "We do not have any confirmation as far as MG Rover's intentions are concerned, but practically everything is still possible. Although we'd hoped to bring talks to an end soon to secure the future of Daewoo-FSO, we can't promise anything at the moment." (Puls Biznesu, p.7; Parkiet, p.7) J.J.