Earlier we published reports from Reuters claiming that Tengzhong’s bid to buy HUMMER was rejected by the Chinese Ministry of Commerce (MOC) due to lack of detail.
According to our sources in China, the deal was not “turned back” for rejection, but rather for clarification. Once the details are added, the deal will again be sent to the MOC for approval.
As expected, the HUMMER deal lives to see another day.
We’ll keep you posted on any further developments.