Saab Sale updates: if and as they happen

UPDATE:

Rapport, the people who started this whole firestorm, are now saying a decision could be delayed.

It is unclear what the GM press conference will be about, they say.

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Reminder:

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We have to hear that press conference first. This deal isn’t done yet, no matter how good the signs look.

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UPDATE:

GM press conference with Ed Whitacre scheduled for 11:30 Detroit time. This would be the same presser that TTELA reported (17:30 local time in Sweden).

The press conference will include a webcast.

3:30am here in Tassie. Crap!!

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UPDATE

Why I’ve been urging caution and waiting for a press release:

Swedish television station Rapport said today that the deal between GM and Spyker is done. Spyker Chief Executive Officer Victor Muller told Bloomberg News that the report was “nonsense.”

From Bloomberg.

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UPDATE:

TTELA claim press conference at 17:30 Swedish time.

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Killing time: the Saab Club Nederland are feeling a bit cheeky with a new banner…

🙂

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Just thinking: I don’t think we’re going to see a release before GM’s out of bed and properly breakfasted.

It’ll run to their timetable.

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UPDATE: the report from SVT could have been triggered by these positive words from the government:

From Bloomberg:

European and Swedish authorities may take a week to approve a loan for General Motors Co.’s Saab should the U.S. carmaker agree to sell the unit to Spyker Cars NV, a senior Swedish government official said.

The European Commission is set to rule that a Swedish guarantee for the European Investment Bank’s pending 400 million-euro ($568 million) loan for Saab is proper state aid, Johnny Kjellstroem, who is negotiating the case with the European Union’s regulatory arm, said in an interview today.

“The Commission has a draft decision, they just really need a confirmation that it will be Spyker” buying Saab, said Kjellstroem, a deputy director at the Ministry of Enterprise, Energy and Communication. “The Commission has an internal process that should take about a week, maybe 10 days.”

The EIB loan is one of the biggest hurdles Spyker faced, so with this in place the only remaining hurdle is getting the nod from Mr Ed (Whitacre) and getting the press release out of GM headquarters.

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SVT are claiming that the deal may be done and the Swedish government are meeting at 14:30 “in response to the deal.”

The report also says that the Riksgälden has approved the EIB loan to Spyker…

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There is no press release from either GM or Spyker about a deal being completed at this time.

And there’s been no phone call, either.

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UPDATES will be posted as they come to hand.

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