Midlands bid for MG Rover

19 May 2005

A Midlands-based businessman has put forward a £220 million bid to keep MG Rover going.

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A Midlands-based businessman has put forward a £220 million bid to keep MG Rover going.

Martin Mosely said his bid to administrators PriceWaterhouseCoopers (PWC) is underwritten by a Taiwanese tycoon and could allow a restart of production at the Longbridge plant within 45 days.

Unlike other bids for specific parts of the business, such as Champan Automotive’s offer for the MG TF roadster, Mosely’s proposal is to keep the entire operation going with 4000 workers.

In an interview with the Birmingham Evening Mail yesterday, Moseley said the Taiwanese cash would be used to secure further loans and keep all MG Rover models in production until new cars could be developed.

Although PWC has accepted the bid and is considering the proposal, Moseley complained that the administrators had been unhelpful and refused face-to-face negotiations.

‘I am trying to buy this place and they are trying to stop it,’ Moseley told the Birmingham Evening Mail. ‘I have got the money, but it seems I can’t buy it. Why not?’

PWC said it would not comment on Moseley’s approach. It is understood to have received around a dozen bids for parts or all of MG Rover and said six or seven are for the MG TF roadster only.