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James plans to submit Rover bid today

Businessman David James has told the BBC that he plans to submit a £15m bid for the sports car unit of collapsed vehicle maker MG Rover today.

Speaking on the BBC's Today programme, James said he would submit the offer once his financial backers have signed up.

James hopes to resurrect Rover as a niche car manufacturer.

Seperate bids have already come from Chinese carmakers Shanghai Automotive Industry Corporation (SAIC) and Nanjing Automobile Corporation.

James's offer for Rover will depend on him finding a buyer for the company's Powertrain engine-making division.

Administrator PricewaterhouseCoopers (PwC) is said to have valued Rover and Powertrain at more than £50m.

PwC is expected to give its decision on the sale within a week.

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