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Still Hope' For Saab

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Still hope' for Saab

GM will look for a new owner of Saab rather than close it down, Saab's chief executive has confirmed.

Speaking after a meeting with GM's bosses, Saab's Jan-Aake Jonsson told Swedish news agency TT: "I, the (Swedish) government and GM are all working very hard to find an alternative."

Joeran Haegglund, Swedish state secretary at the enterprise ministry, was present at the meeting to outline the level of state funding on offer, and added: "There is still hope for Saab.

The European Investment Bank has granted Saab a 400 million euro (£364m) loan, but the Swedish state must guarantee the loan and the European Commission must still approve it.

Haegglund reiterated that the Swedish state would not take a stake in Saab.

Reports suggest there are four interested buyers for Saab, including US investment firm Merbanco, China's Beijing Automotive (BAIC) and US holding company Renco Group.

A fourth, unnamed group, is said to be "an international group with several countries represented, but not Sweden" according to reports.



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