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Report: 'Hummer deal blocked'
Friday, June 26, 2009
Hummer’s sale to Chinese firm Sichuan Tengzhong Heavy Industrial Machinery will be blocked by the government on environmental grounds, according to Chinese state radio.
GM has agreed a reported £60million deal with Tengzhong for the Hummer brand, but the move has been ridiculed in China and passed off as a publicity stunt.
China questions Hummer sale
China National Radio has said the move will now be blocked by the ruling Communist party, as it goes against the country’s attempts to cut heavy pollution in the industrial state.
National Radio says Tengzhong’s lack of expertise in car production is also be a factor in the government’s decision to block the controversial acquisition.
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Mark Tisshaw
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