Jaguar – Land Rover aid talks “near collapse”

Posted on May 6th, 2009 by In51der in Manufacturers, News

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.
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