To paraphrase the once great weekend update anchor Chevy Chase, "Generalissimo Saab is still dead" and appears likely to stay that way. Bloomberg reports that Spyker is the last bidder standing to pick up the Swedish brand from General Motors, although Genii Capital and partner Bernie Eccelstone apparently haven't given up yet. At this point, according to the news service, Spyker is the only party in active talks with The General as the process of shutting down Saab has already begun. Genii hopes to reopen talks with GM this week.

The Spyker bid reportedly includes having GM continue to hold a stake in Saab – a stipulation that the U.S. company will probably be averse to. Another problem could still revolve around handing over intellectual property to Russia, just as it did with the aborted attempt to sell Opel to Magna (the largest shareholder in Spyker is Russian chairman Vladimir Antonov). Given Saab's continued lack of financial success over the years, it's hard to see how Spyker (which has had its own problems to sort through) could make a go of it. With any luck, we'll know the outcome of this sad saga this week, although we'd be less-than-surprised to see things drag on for a while yet.

[Source: Bloomberg | Image: Joe Raedle/Getty]

I'm reporting this comment as:

Reported comments and users are reviewed by Autoblog staff 24 hours a day, seven days a week to determine whether they violate Community Guideline. Accounts are penalized for Community Guidelines violations and serious or repeated violations can lead to account termination.

    • 1 Second Ago
  • From Our Partners

    You May Like
    Links by Zergnet
    Share This Photo X