Swedish government says GM still optimistic of finding buyer
25 November 2009

A Swedish government official has reported that GM is still optimistic of selling Saab, rather than closing it down.

Yesterday, proposed Saab buyer Koenigsegg withdrew from negotiations, prompting concerns that cash-strapped GM would simply close the car maker.

"I talked to GM last night and my impression is that they have not given up hope," said Joran Hagglund, state secretary at Sweden's industry ministry.

However, the Swedish government has, in effect, ruled out a state bailout of Saab

Swedish enterprise minister Maud Olofsson has also acknowledged that finding a buyer for Saab will be difficult.

"For every day that passes the challenge gets bigger and bigger," she said.

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