Saab denies Fiat take over plans

Saab has strongly denied rumours it is in talks with Fiat over possible takeover plans.
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A spokesman from the Swedish brand, Eric Geers, confirmed yesterday that Fiat was not one of the ten potential buyers currently in negotiations with the ailing manufacturer.

"We now have 10 very serious interested parties which have visited us in Trollhattan," Mr Geers said. "What will happen now ... we will narrow these down, and we are counting on a close (of a deal) in June, or the beginning of summer."

Saab won more time to restructure in early April when a Swedish court extended the period in which the company is protected from creditors.

GM has said it plans to cut ties to Saab by the end of the year.