Saab director: General Motors to sell off Swedish unit
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Stockholm/Detroit - Ailing US carmaker General Motors (GM) could be planning to sell off its Swedish subsidiary Saab, Saab's deputy director Frederick Henderson told Stockholm's SR radio station Wednesday. Henderson said GM was looking to resolve its financial troubles as quickly as possible, and a sell-off of Saab was one of several options. GM bought shares in Saab in 1990 and has been the sole shareholder since 2000. GM asked the US government for 18 billion dollars in credit on Tuesday to avoid going bust. In seeking the government assistance, the company said it would concentrate on its domestic US brands. Equally troubled Ford has put its Swedish subsidiary Volvo up for sale.
Copyright DPA
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