Geely in running to buy stalled London cab firm

Mainland carmaker Zhejiang Geely may buy out its London taxi manufacturing partner Manganese Bronze for less than £2.7 million (HK$33 million), a person familiar with the talks said.

Zhejiang Geely, the parent company of Hong Kong-listed Geely Automobile, proposed a deal to Manganese Bronze last month to buy out the remaining 80 per cent stake of the company, according to the person.

Manganese Bronze entered administration in October last year after failing to secure funding for its survival.

via Business feed http://www.scmp.com/business/companies/article/1136275/geely-running-buy-stalled-london-cab-firm