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Three serious bidders confirmed for Rover rescue

Three serious bidders have been confirmed to be in talks to buy car and engine production assets of MG Rover, according to the company’s administrator PricewaterhouseCoopers.

UK businessman David James' consortium has been confirmed as one of the three in talks with MG Rover administrators.

Aside from James' group, administrator PricewaterhouseCoopers is also in talks with two potential bidders from China.

The other firms hoping to buy Rover's car and enginemaking assets are Nanjing and Shanghai Automotive Industry Corp (SAIC), which pulled out of talks with Rover in April, triggering its collapse.

“All the potential buyers have an ambition to continue at least some car production in the UK,” says Tony Lomas, joint administrator and partner at PwC.

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