5 years ago the Phoenix Consortium paid a nominal £10 for a company with £55 million in capital assets, all they have done since is lose money. Now that this £55 million has run out they are faced with reality, and the first thing they can think of to do is sell the company to the Chinese. No wonder they don't want such a liability, the capital was frittered away and at no time in those 5 years did MG Rover make a profit, who wants to buy a loss making company? The UK government should not bail them out, but they should prosecute the consortium for fraud, and make sure that they end up as hard up as their redundant employees will soon be.
Giok