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Jaguar – Land Rover aid talks “near collapse”

BBC News is reporting that the talks between the carmaker Jaguar Land Rover and the UK government on a package of financial support are close to collapse.

The carmaker received what it was told was a final offer from the business department on Friday.

Jaguar has not formally rejected it, but is understood to feel that the tough conditions demanded in return for guaranteeing a loan are unacceptable.

If no financial help is provided, jobs and important investment could be cut.

The government is understood to want a right to veto management decisions, appoint its own chairman and have a say in any future redundancies at the company which employs 14,500 people.
Full story…

May 6, 2009In51der
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