Last week we got reports that Geely was interested in acquiring Saab. Then we got a denial of the rumors from the CEO of Geely's passenger car division. And then during the weekend there were reports that Saab's reconstruction administrator had gone behind Saab's back when trying to sell the company to Geely. We read about Geely's Chairman being in Sweden to meet the Minister of Finance and to buy Saab. A meeting that was cut short when the Minister failed to show up and Geely's Chairman walked out.
And today we can once again read that Geely is denying any interest in Saab. This time from Automotive News China which is referring to a blog by Geely's Director of public relations, Yang Xueliang, who writes that Geely has no interest in buying Saab. But he does confirm that there has been contact.
In an email to the Swedish newspaper Göteborgs-Posten, Yang Xueliang writes the following:
"The reports in the Swedish media are not true. Geely is not interested in buying Saab. We met with their representative for a presentation, mostly as a courtesy to the Swedish Government and the company, when they contacted us for help."
One of the reports from this weekend said that Saab's reconstruction administrator Guy Lofalk went behind Saab's back when trying to sell Saab to Geely. And for this reason Saab would today ask the court to appoint a new administor. But to GP Saab's Executive Director Communication, Eric Geers, denies that Saab will ask the court to do this.
In other words, lots of rumors, some being confirmed, some being denied. But from what I have learned, the automotive business, and maybe especially the Chinese, work by this principle: Deny, deny, deny, buy.
A blog fueled by enthusiasm about Saab, the greatest car company between the North and the South Pole. And their cars, which probably is the only cars that would start on a cold and crispy South Pole morning.
