The government is understood to have offered BMW £100-£118m to help it keep its Longbridge Rover plant open, according to some of this morning’s newspapers.
The package falls far short of the expected £200m vaunted in the media. BMW is thought to want at least £180m. The Independent claims the government has offered a subsidy package worth £180m, contrary to other reports. The news came as Rover reported it lost almost £650m last year.
The Department of Trade and Industry said negotiations would continue with BMW. The carmaker is expected to decide at the end of the month whether to proceed with the Birmingham factory or opt for an alternative in Hungary.
Financial Times 19/03/99 page 1
The Times 19/03/99 page 27
The Daily Telegraph 19/03/99 page 33
The Independent 19/03/99 page 16
