China: Govt reportedly rejects Tengzhong-Hummer deal

A report carried by Reuters, citing an unnamed source familiar with the issue, claims that China's Ministry of Commerce has rejected the bid submitted by Sichuan Tengzhong Heavy Industrial Machinery to acquire General Motors' Hummer brand. According to the report, Tengzhong was believed to have been lobbying behind the scenes for It’s time to log … Continued

• By Webmaster
• February 24, 2010