Saab's Hopes Fade as Chinese Investors Lose Interest

[Dover]

Waaaaaah! :cry: Sobbing for Saab.

!!!!!!!!!!!!!!!!!!!! Save Saab! Save Saab! Save Saab! Save Saab! Save Saab! !!!!!!!!!!!!!!!!!!!!



Saab Automobile’s last hopes for avoiding collapse appeared to be fading Thursday, with Chinese investors getting cold feet and the court-appointed administrator recommending that its reorganization process be halted.

Guy Lofalk, the administrator, “will apply for termination of the voluntary reorganization of Saab” and two subsidiaries, Saab said.

“We definitely will not accept” Mr. Lofalk’s bid to end the reorganization, said Victor Muller, the Dutch entrepreneur who bought Saab from General Motors in 2010. Mr. Muller added that he would seek to have a new administrator appointed.

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http://www.nytimes.com/2011/10/21/business/global/saabs-hopes-fade-as-chinese-investors-lose-interest.html?ref=global