It seems Ford is holding up another auction. While it is not the sale of its British luxury car unit Jaguar, it does involve a British car maker. Earlier in the year, BMW AG put the defunct British nameplate Rover on the auction block, and finally announced Tuesday it has accepted an offer. However, BMW will not announce additional details until Ford chimes in on the deal, which could take up to 90 days. Consequently, it is not known who bought the venerable British brand or for how much. However, only two bidders were expected: Nanjing Automobile Corp., a Chinese car maker which owns the MG brand and designs, and Shanghai Automotive Industries Corp., another Chinese company which bought Rover's intellectual property, but not the brand name. Most sources believe SAIC was the winner. So what does Ford have to do with the auction? At one time MG's sports cars, Rover's sedans and Land Rover's SUVs were all one big happy family until BMW bought the company about 12 years ago for £800 million. Eventually, BMW sold the Land Rover business to Ford. However, as part of the deal, Ford has the first right of refusal to purchase the Rover brand. In addition, Ford insisted that the Rover brand never use the Rover name on any four-wheel-drive vehicles. The clause is expected to carry over to Nanjing or SAIC. The break up of MG Rover occurred because the company fell into receivership, leading BMW to sell its assets. Both Chinese companies are looking to use the venerable British brands to expand into Europe and North America. —Matthew Wurtzel
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