THE GUARDIAN: Swedish carmaker's owner admits defeat after former parent General Motors blocked a rescue deal involving a Chinese firm
Sweden's Saab faced an end to more than 60 years of carmaking on Monday after its Dutch owner abandoned repeated attempts to find financing and filed for its bankruptcy.
The end to months of efforts to keep the famed carmaker afloat came when General Motors at the weekend again vetoed a plan involving Chinese investor Zhejiang Youngman Lotus Automobile. GM, Saab's former owner, still licences key technology to Saab and has a small shareholding. » | Reuters | Monday, December 19, 2011
