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News of May 02, 2000
| No Agreement between BMW Group and Alchemy
Concerning the Sale of Rover . |
| Munich, Germany - BMW and Alchemy have terminated their
negotiations. No agreement was reached on the sale of Rover Car Operations to Alchemy. The
negotiating partners were finally unable to come to an understanding with respect to
certain conditions of contract. BMW Group will now pursue alternative routes to bring to an end its involvement in Rover Car Operations. Those routes include the sale of Rover Car Operations or its closure. A decision which of those alternatives will be implemented will be taken during the course of next month. This situation does not affect the preparations for the transfer of the Land Rover brand to Ford, which are conducted with high priority and in a straight forward manner. They will be concluded according to plan by the middle of this year. (April 28, 2000)
|
| Visit Of British Union Representatives In Munich . BMW: Phoenix Bid still not financially backed . |
| Munich, Germany - On the occasion of a visit, a delegation of
the British unions has turned over a petition, demanding to sincerely consider the bid of
the consortium of the former Rover head John Towers. During this visit BMW made clear, that despite a demand of BMW the financial backing by the consortium has not been provided yet. On the occasion of the visit of the unions, BMW has once again repeated this fact and pointed out, that this does not constitute a basis for entering negotiations with the Phoenix consortium. (April 27, 2000) |
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