Rolls sees sale bids in by April

GENEVA: Officials of Rolls-Royce Motor Cars, the luxury British carmaker put up for sale by Vickers Plc last year, expect all bids for the company to be in by early next month.

According to a Reuters report, Rolls-Royce says its did not expect a decision on the outcome of its auction.

The chief executive of Rolls, Graham Morris, said in an interview just before the start of the Geneva motor show, that the race was still on to buy the company, with final bids expected to be in by the end of the month or early next month.

Morris added that if the winning bid is from a major carmaker it would result in "major cost savings" for Rolls-Royce, the last major British-owned car manufacturer.

The industry focus remains on the future ownership of the company itself.

"It's still a wide-open race. We are still getting entrants into the race," said the chief, who joined the company 12 months ago from Vauxhall.

Asked when a decision on the buyer would be made, the Rolls boss said: "At the end of March or early April all the offers will be in. No formal offers are in so far. We're having conversations now about bringing the process to a conclusion, party by party."

Morris said a new parent company could bring valuable benefits to Rolls, helping it to become more cost effective and increase sales, which were 1,918 last year.

The chief executive said Vickers would consider two key factors when assessing bids -- the best deal for its shareholders and the best new home for Rolls-Royce.

He denied the group would lose its British essence if it went to a foreign company.

"These people who want to buy us are intelligent. They understand what makes or breaks us is our Britishness."

BMW, Mercedes-Benz and Volkswagen have expressed a desire to buy the British carmaker, as well as some British interests.