Britain's Serious Fraud Office said on Tuesday that it would not begin a criminal probe into the collapse of carmaker MG Rover in 2005, after taking legal advice.
Last month, business Secretary Peter Mandelson had referred an independent report on MG Rover's demise to the Serious Fraud Office (SFO) -- and called on it to consider whether a criminal investigation was necessary.
"The Serious Fraud Office has announced that it does not intend to begin a criminal investigation into the sale of car manufacturer, MG Rover Group, following a review of documents sent by the Department of Business, Innovation and Skills," the SFO said in a statement on Tuesday.
It added that a small team of investigators have studied the report and made recommendations to SFO Director Richard Alderman, who also took advice from lawyers.
"The director then made the decision not to initiate a criminal investigation. As the inspectors' report has not been made public, the SFO is unable to go into detail about the reasons for its decision," the statement continued.