Official: BMW confirms sale of Rover car brand

Following a number of conflicting reports over the past two weeks, BMW finally announced today that it has agreed to sell the Rover brand for an undisclosed sum to an unidentified buyer. The sale will go ahead unless Ford exercises a right to buy the brand within a 90-day period. Ford obtained this right when bought Land Rover from BMW, which was part of the Rover group. Reports last week indicated that Chinese automaker Shanghai Automotive would buy the rights (see previous report).