Even though many believed that the interest of Sichuan TengzHong Heavy Industrial in buying Hummer was just a rumor, GM is making firm moves in order to strength that both companies are in the middle of advanced take over discussion.
The recent demand of the GM’s officials for a government approval for selling the famous brand to the Chinese Company, comes as a statement of the serious intentions. Mostly because it is not used to request discussion with regulators before having at least a formal agreement set up.The Chinese Ministry of Government considers that Tengzhong’s proposal for taking over Hummer is mostly a strategic move to benefit from the global downturn. Probably there are some Chinese voices not very happy with this move and this is why they are trying to create welter.
Read Article