The plan by China’s Sichuan Tengzhong Heavy Industrial Machinery to buy GM’s Hummer brand could be in jeopardy as the economic agency for China might reject the bid.
Tengzhong will be negotiating with the National Development and Reform Commission to secure approval for its purchase of Hummer.
Unconfirmed reports, however, say that Tengzhong and Hummer have not yet presented the case and that any rumours of blocking the agreement should be considered pure speculation.
Chinese state radio has revealed, though, that environmental concerns and Tengzhong’s lack of experience may mean the deal is never reached.
General Motors had originally tentatively agreed to sell the Hummer brand to Tengzhong, and talks between the two companies are proceeding as planned.
Tengzhong is based in the Sichuan province and manufacturers special-use vehicles, construction machinery and energy equipment.
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Can you believe that Prince William waited almost a decade before putting a ring on Kate Middleton's finger? But apparently, the reason behind his patience was all about giving his lady love "the best chance" possible. Talk about being a true gentleman!
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Following a petition by a Labour MP, Robert Milligan Statue was taken down by JCB.
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When you travel to a different city, either for business or for holidays, you should always look for a way to comfortably move to the places you are going to visit, which can be done by hiring the services of a rental car. It is an effective form of transport that is easily accessible, even at the airport of arrival.