Monday, April 18, 2005

Feel free to copy, there is no copyright on an Anoneumouse montage. (click on image to enlarge)

‘no’ don’t you understand

SAIC told Trade Secretary Patricia Hewitt it was not interested in a joint venture with Rover three months ago, a company source has told Scotland on Sunday .

The Shanghai-based company’s concerns about Rover’s solvency were followed up with three official letters in the past month - on March 29, April 4 and April 5 - stating it was categorically not interested in investing in MG Rover.

"There is a big difference between ‘possible’ and ‘highly unlikely’," one source close to SAIC said. "There were concerns about the long-term solvency of MG Rover. No company in the world would go into a joint venture with a partner who could be insolvent within weeks."

The government and MG Rover itself continued to insist, until the company was put into administration on April 8, that a deal with the Chinese was its best hope of survival.

And ministers continued to claim there was hope until the firm pulled out on Friday. "It became a case of which part of the word ‘no’ don’t you understand," a source close to the drawn-out proceedings said.



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