27
Jun
08:55
SAIC rejects rumours on hostile acquisition in India
Chinese leading automaker SAIC released a statement clarifying on the recent widely spread rumours suggesting a hostile acquisition of its subsidiary SAIC MG in India.
According to online speculation, SAIC MG’s Indian branch was forced to be acquired at low prices, with SAIC losing control of the company. In response, SAIC said the information being reported was hugely distorted, Kallanish notes.
The company notes it has been exporting independent br…
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