Chinese automotive company Geely has denied that it is considering a bid for stricken Saab
6 October 2011

Chinese automotive company Geely has denied that it is considering a bid for the stricken Saab car firm.

A report in today’s Dagens Nyheter newspaper in Sweden suggested that Geely representatives had approached the court-appointed administrator that is running Saab’s affairs to discuss a deal.

But a representative of Geely Automobile Holdings has dismissed the report. Geely bought Volvo in a £1.2bn deal in March 2010 and a bid for a second Swedish car marque would appear unnecessary.

Saab, which is currently owned by Swedish Automobile, is in the midst of a restructuring programme and is under creditor protection as it waits for an injection of investment from two other Chinese organisations, Pangda and Zhejiang Youngman Lotus Automobile.

Read more about Saab's troubles here.

Car production is still stalled at Saab, and no date has been given for a restart.

See all the latest Saab reviews, news and video

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