Chinese firm bidding for Hummer begins talks with the Chinese government
8 July 2009

Hummer’s proposed new owner Tengzhong has begun talks with the Chinese government in a bid to try and get its deal with GM approved.

A Tengzhong spokesman said: “We have already got in touch with the relevant government departments (for approval of the deal) and will keep in touch with them.”

The spokesman didn’t confirm how much progress had been made in the talks, however.

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Tengzhong has been much criticised in the Chinese media for its attempts to buy Hummer.

Media reports claim the heavy machinery manufacturer is inexperienced in international business and it is a peculiar move at a time when China is trying to cut its CO2 output.

Under Chinese laws, any company wanting to buy an overseas firm for more than $100 million (£62 million) must get state approval.

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Mark Tisshaw

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