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Saab automobile back to square on to seek survival solution after GM reject the Chinese offer 
Tuesday, 08 November 2011
The Swedish government would love to see the Saab saga solved irrespective of if GM wants to protect its property rights or not. This is why the industrial economy minister Annie Loof was surprised by GM's no to the Saab business.

But she still has not given up hope a long term solution for the automaker. Now she has promised to contact GM. "There are many important pieces that must be in place and one of them is GM's approval. There, the government is obviously going to get into dialogue with GM, "said Annie Lf during a press conference in the Swedish parliament on Tuesday.

On Monday GM announced that it will not approve the agreement between Saab and China Youngman and Pang Da in which Saab wants to sell 100percent of the company to the Chinese. Although for strategic reason GM would not want the Chinese to bask on its prices technology imbedded in the various Saab cars, the Swedish minister instead is surprised by the news.

"It was a sad statement, "she said.
"When we saw last week a possible Chinese solution, it was extremely gratifying. But it was of course fly in the cup when GM yesterday announced that they reject that as a solution. Now one has to start again at square one, "she continues.

Also the Minister pointed out again and again that it is the parties themselves which must reach a solution.
"The Government will monitor the process carefully, and we also open the doors of communication with the Chinese authorities and with GM, "she says.

"But it is ultimately the parties, Saab and Chinese stakeholders, who need to reach an agreement, "she continues.
Annie Loof would not respond to what she thinks about GM's announcement, which could be the nail in the coffin for Saab.
"I do not want to review GM, but can confirm that this has happened. Now the administrator and private stakeholders have the power to sit at the negotiating table and find a long term solution for Saab and the employees, "she said.
By Scancomark.se Team

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