German carmaker BMW AG on Thursday denied market rumours that it had made an improved offer for Rolls-Royce Motor Cars.
We repeat statements made by Pischetsrieder. We wont raise the bid, said BMW spokesman Juerg Dinner.
Dealers had said that rumours BMW had upped its offer for the luxury British carmaker were pushing BMW shares down.
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BMW chairman Bernd Pischetsrieder said on Tuesday that he would not make any new offer for Rolls-Royce Motor Cars but that he still considered BMW in the race for the company.
Rival German car maker Volkswagen AG has made a 430 million pounds ($699.6 million) offer, seemingly outgunning BMWs 340 million pounds offer that was initially favoured by onwers of Rolls-Royce, Vickers Plc.