Another Cnooc scenario that stirs up China bashing? And will troubled US auto industry make a surprise move to be bought up by a Chinese firm? From China Business Infocenter (photo: FAW’s Red Flag sedan, via FAW web site):
Shanghai – China First Automobile Works (FAW), China’s biggest auto maker, is interested in buying the money loosing Chrysler Group from DaimlerChrysler AG. Representatives from FAW are already in the U.S. for discussions with Chrysler, sources say, according to the Oriental Morning Post in Shanghai on Tuesday. The offered prices has not been disclosed, but speculations hoover between four and five bullion US dollar.
Based in Changchun of Jilin Province in Northern China, FAW is a conglomerate of nearly 50 wholly owned or partially owned companies, including joint ventures with Volkswagen and Toyota.
Both spokespersons from DaimlerChrysler in China and FAW declined to comment on this. [Full Text]
