BMW says preparing for no-deal Brexit given political uncertainty

LONDON (Reuters) - Carmaker BMW said it was continuing to prepare for a no-deal Brexit, given uncertainty around Prime Minister Theresa May's deal after several of her ministers resigned in protest. BMW welcomed this week's draft withdrawal agreement as a 'positive step in the right direction' but said the political situation was uncertain

Reuters November 16, 2018 01:05:38 IST
BMW says preparing for no-deal Brexit given political uncertainty

BMW says preparing for nodeal Brexit given political uncertainty

LONDON (Reuters) - Carmaker BMW said it was continuing to prepare for a no-deal Brexit, given uncertainty around Prime Minister Theresa May's deal after several of her ministers resigned in protest.

BMW welcomed this week's draft withdrawal agreement as a "positive step in the right direction" but said the political situation was uncertain.

"Uncertainty is not good for business. As a responsible employer, we must therefore continue to prepare for the worst-case scenario, which is what a no-deal Brexit would represent," it added in a statement.

"We continue to call on all sides to work towards a final agreement which maintains the truly frictionless trade on which our international production network is based."

(Reporting by Costas Pitas, writing by Alistair Smout, editing by Kate Holton)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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