BMW AG's major shareholder the Quandt
family on Monday quashed speculation it was interested in
selling its 48 percent stake in the company to Ford Motor Co or
other rival car makers.
A spokesman for the billionaire German industrial dynasty
said the family had no reason to sell its stake and had no
interest in doing so. BMW last week jettisoned its loss-making
UK Rover subsidiary and sold off Land Rover to Ford.
The spokesman said that the family was not in talks with
Ford the world's second-biggest car maker or with any
other rival car company, about selling its stake.
"The Quandt family has given no one the task of finding
solutions for BMW because there is no reason to nor an interest
in selling BMW," Quandt family spokesman Thomas Gauly said.
"There have been no talks with Ford or with any other auto
maker. Any reports to the contrary are speculation and without
any substance whatsoever," he added.
A report in German newspaper Die Welt on Monday had fuelled
rumors that anxiety was mounting at the Munich-based car maker
that the family might sell off its stake, jeopardizing the
group's eight-and-a-half decades of independence.
The newspaper reported that the Quandt family had called on
BMW to secure the company's independent future in return for not
selling its stake.
The head of BMW's workers' council Manfred Schoch, who is
also a BMW supervisory board member, told the newspaper that the
family had asked BMW Chief Executive Joachim Milberg to find
solutions to ensure the group's independence.
But a spokesman for Schoch said on Monday that BMW's
decision last week to sell Rover had satisfied Quandt demands
for urgent action to tackle unease about the company's future
and had been welcomed by them as an appropriate measure.