Alchemy Partners could restart negotiations to buy Rover Cars from BMW after talks collapsed last week.
Rival bidder Phoenix is due to hold talks today with the German car maker. It is thought to have secured £200m in backing from up to five unidentified city institutions.
BMW has warned it will close the Rover Longbridge plant in the West Midlands by the end of the month if a deal is not struck. It maintains it would be cheaper to shut the plant than to sell it to a new buyer. The closure of Longbridge would also mean the demise of many of the factory’s suppliers in the region.
Financial Times 02/05/00 page 1, page 18, page 19 (Observer)
The Daily Telegraph 02/05/00 page 1-2
The Times 02/05/00 page 1, page 18
The Independent 02/05/00 page 4
The Guardian 02/05/00 page 1, page 19 (Leader)
