[Picture LINK]BBC News - Saab files for bankruptcy in Sweden:
"General Motors (GM), which owns part of Saab, did not want Chinese carmakers accessing technology licences."
Earlier this month, a Swedish court told Saab's owners to come up with a credible rescue plan or else enter bankruptcy.Some of the world's biggest car makers are warning EU leaders about how damaging a prolonged debt crisis could be to their industry. (Padmore, Russell. BBC. 2 Dec 2011. HERE)
General Motors sold Saab in 2010 to Dutch luxury carmaker Spyker - now renamed Swedish Automobile - but the US automotive giant remains a stakeholder and a supplier. (BBC. 19 Dec 2011. HERE)
On Thursday Fiat's boss warned his firm may pull out of Italy completely unless the situation improves.
'via Blog this'