IMPORTANT NEWS: National Electric Vehicle Sweden has agreed to buy the assets of Saab Automobile and the sale is expected to be finalized during the summer.

Tuesday, December 6, 2011

GM will not approve latest proposal to save Saab

This afternoon General Motors has told local Trollhättan newspaper TTELA that they can not approve the latest proposal for a deal where Youngman and a Chinese bank takes a 49.8 percent stake in Saab.

"We have reviewed Saab's proposed changes regarding the sale of the company. Nothing in the proposal changes GM's position. We are unable to support the transaction ," GM writes to TTELA.

This has now been confirmed by Dow Jones Newswires:

"Nothing in the proposal changes GM's position," said James Cain, a spokesperson at GM in a statement, without mentioning what the proposal contained.

And then we're back at square one.