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LONDON (AP) - Shanghai Automotive Industry Corp., which precipitated the collapse of MG Rover Group Ltd. earlier this year when it pulled out of merger talks, put itself back in the picture as a possible rescuer Thursday.
China's state-owned SAIC announced it has teamed up with private investment vehicle Magma Holdings Ltd., headed by former Ford of Europe Chief Executive Martin Leach, to make a bid for the British automaker's assets.
SAIC said its proposal would allow for the resumption of car production at Rover's Longbridge factory in central England.
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