clipped from: www.reuters.com BEIJING/SHANGHAI, June 5 (Reuters) - A little-known Chinese heavy machinery maker could face a bumpy road ahead in its quest to buy General Motors' (GMGMQ.PK) Hummer brand, facing pitfalls ranging from regulatory to financing issues.
The Hummer deal may not get government approval as Beijing is not encouraging its automakers to make acquisitions overseas, the official Shanghai Securities News reported, citing people with knowledge of the matter.
"It's funny how things change so much in a year. A year ago, Capitol Hill would have had all sorts of scrutiny for this deal. Now it's China who will give this deal scrutiny," said the source.