STOCKHOLM, May 30 (Reuters) - Swedish carmaker Saab is in a difficult position after being left out of the deal by General Motors to sell its German unit Opel, Prime Minister Fredrik Reinfeldt was quoted as saying on Saturday.
'I believe that anyone who has followed this closely realises that this is a very vulnerable and difficult position that Saab is in,' the local TT news agency quoted him saying.
His comments came a day after Germany sealed a deal with Canadian auto parts group Magna, GM and the U.S. government to save Opel from the imminent bankruptcy of its U.S. parent.
Saab, which was put up for sale by its ailing U.S. parent earlier this year, said this week Saab and GM would present its preferred candidate out of three undisclosed remaining bidders within the coming weeks.
Local media, citing undisclosed sources, have reported that the two front-runners in the bidding were Swedish luxury carmaker Koenigsegg and U.S. financier Ira Rennert and his Renco Group, with Italy's Fiat as the third suitor.
A local Swedish court has granted Saab a further extension of the period it is protected from creditors, giving it more time to restructure.
(Editing by Michael Roddy) Keywords: GM/SAAB (Stockholm Newsroom, tel: +46-8-700 1017, e-mail: mia.shanley@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'I believe that anyone who has followed this closely realises that this is a very vulnerable and difficult position that Saab is in,' the local TT news agency quoted him saying.
His comments came a day after Germany sealed a deal with Canadian auto parts group Magna, GM and the U.S. government to save Opel from the imminent bankruptcy of its U.S. parent.
Saab, which was put up for sale by its ailing U.S. parent earlier this year, said this week Saab and GM would present its preferred candidate out of three undisclosed remaining bidders within the coming weeks.
Local media, citing undisclosed sources, have reported that the two front-runners in the bidding were Swedish luxury carmaker Koenigsegg and U.S. financier Ira Rennert and his Renco Group, with Italy's Fiat as the third suitor.
A local Swedish court has granted Saab a further extension of the period it is protected from creditors, giving it more time to restructure.
(Editing by Michael Roddy) Keywords: GM/SAAB (Stockholm Newsroom, tel: +46-8-700 1017, e-mail: mia.shanley@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.