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further on bmw
from reuters today....
FRANKFURT (Reuters) - The new chief executive of German car manufacturer BMW
AG said on Sunday the company was not considering any tie-up, despite media
reports that a number of auto companies might be examining possible takeover
Joachim Milberg, who replaced ousted CEO Bernd Pischetsrieder last week,
said there was no truth to reports that BMW's position may change. He was
responding to reporters' questions about the Munich-based firm's future
plans through a spokesman. "BMW is independent, and will stay independent,"
the spokesman quoted Milberg as saying.
On Saturday, BMW's major shareholders re-confirmed their support of the
company after a German newspaper said General Motors Corp. was lining up to
make a takeover offer. The newspaper Die Welt reported that GM, the world's
largest auto maker, was likely to make a proposal in the next few days.
"The Quandt family's declaration of support for BMW is steadfast. There are
no indications that this will change," a spokesman for the family, which is
thought to hold a 45 percent stake in Europe's biggest car maker, told
Reuters. The spokesman said this position was true in reference to both
General Motors and Volkswagen's rumored interest in the company.
German magazine Der Spiegel reported Volkswagen AG was planning a tie-up
with BMW that would include taking over the company's loss-making Rover
decision. However, in response to this report, a BMW spokesman said on
Friday the company's chief shareholders were not considering changing their