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In Reply to: This is fake/doctored! posted by dwanon on March 20, 2000 at 02:04:12:
: This article has been doctored. Look at the text -- it doesn't make sense:
: The NY Times reported Friday that Alchemy was buying the Rover car factory. But the article specifically said that BMW will retain ownership of the mother company, and that a German family who owns almost half BMW has historically rejected and continue to rejects any takeover bids.
: So, fortunately, "BMW, a division of Ford," will NOT be happening anytime soon....
: : MUNICH (AP) -- Ford Motor Co. has been talking to BMW about possibly taking over the Munich-based automaker, a newspaper reports.
: : Citing sources at BMW, Welt am Sontag, in a story to be published Sunday, reports that middlemen below the highest corporate level have been talking for three months.
: : Volkswagen (VLKPY: news, msgs) and General Motors (GM: news, msgs) have also renewed their interest in taking over BMW since the luxury automaker decided to get rid of its British Rover unit.
: : BMW has announced that it will sell the Land Rover division to Ford Motor Co. (F: news, msgs) for $2.91 billion while British investment group Alchemy Partners Ltd. has agreed to take over the MG and Rover passenger cars.
: : The door is open for other bidders to take over Rover's passenger car business, Britain's trade secretary said Saturday, suggesting that the government might welcome such a bid.
: : Trade and Industry Secretary Stephen Byers, speaking before a meeting of a government task force on Rover, said there are many unanswered questions about Alchemy Partners' intentions.
: : Alchemy has indicated that there will be layoffs at Rover's Longbridge Assembly plant, which now employs about 8,000 people, but has given no details.
: : "Alchemy Partners have six weeks to finalize their deal. In the interim, there is nothing to stop someone coming along and putting in a new offer with BMW,'' Byers said. "BMW have told me they would not reject alternative bids coming from other car manufacturers.''
: : Byers said one of the problems is that Alchemy has not said what it intends to do with the Longbridge assembly plant.
: : "If they are prepared to commit themselves to a high volume factory for car production then we would welcome that, but they have left so many questions unanswered that we can't say today with any confidence that they offer a long term future for Longbridge,'' he said.
: : By selling off the Rover Group piecemeal, BMW will effectively wipe out a brand whose history mirrors the long decline of heavy industry in the United Kingdom.
: : Rover is known in the United States mostly for its Discovery and Range Rover sports utility vehicles. Another Rover brand, the MG sports car, is no longer sold in the United States. Rover cars have a much stronger reputation in Europe.
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