“We will try to get clarity about what the decision from GM means and if there is any way ahead,” court-appointed administrator Guy Lofalk told Reuters. “I hope that I will know more before the end of the week.”
For the time being, Lofalk will not recommend to the court to end the bankruptcy protection process. He said it could happen though.
On Monday, GM said they would yank all licenses and oppose the deal if Saab would be sold 100 percent to China’s Pangda and Youngman.
Both Victor Muller and his mouthpiece Saabsunited now say they knew that all along.
We are in rare agreement on that. Last Friday, Sweden’s national publicly funded radio broadcaster Sverigesradio reached me and asked what I think of the deal. At that time, everybody was banking on a quick decision by China’s NDRC. Everybody, except me, it seems:
“Time is money and Saab has neither. Anybody who thinks that the NDRC would decide quickly should have his head examined.”
With GM having said no and Saab having called off the deal, no NDRC decision is needed. On Friday, I seriously doubted that GM would approve the deal, because it would disturb its current business interests in China:
“SAIC and BAIC, being owned by the most influential power-centers in China, are extremely well connected in China at the highest levels, and they will not like this.”
Hours later, GM spokesman Jim Cain said what was expected:
“GM would not be able to support a change in the ownership of Saab which could negatively impact GM’s existing relationships in China or otherwise adversely affect GM’s interests worldwide.”