DETROIT/AMSTERDAM, Dec 6 (Reuters) - General Motors Co said on Tuesday it would not support a proposed ownership structure for Saab that included a Chinese bank, moving the Swedish auto company closer to liquidation. "We have reviewed Saab's proposed changes regarding the sale of the company," GM spokesman James Cain said in a statement. "Nothing in the proposal changes GM's position. We are unable to support the transaction." GM has said it would be difficult to support a sale of Saab that hurts GM's competitive position in China and other key markets.
Without GM's technology licenses and production contract, analysts have said, Saab would be unable to continue in its present form. Saab owner Swedish Automobile said on Monday it was in talks with a Chinese bank it would not identify about taking a stake in Saab. The new proposal was part of an effort to address the concerns of GM, which still has preferential shares in Saab and licenses technology and previously built a vehicle for the Swedish automaker, which halted operations in April.
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