Saab Showcases Its Operations to Investors

Tired or not of Saab's story, there is no getting around the Swedish manufacturer. The ever growing number of investors who are supposedly taking interest in GM's unwanted brand are now being offered a tell-tale tour of the company's operations, Financial Times reported.

If you remember, it was only yesterday that the manufacturer said it has 27 possible bidders, with whom it has signed confidentiality agreements. Today, Jan-Ake Jonsson, Saab CEO, comes up with another number, saying that the car maker will open its door to 10 of them, who have shown "a serious interest".

"We are starting to have presentations on the business in more detail to potential buyers. Our current plan is that there are about 10 we will review the business in detail with, then see whether we need to go further into the list," the CEO was quoted as saying by the source.

Who are the ten? Unnamed private equity groups, other financial investors and "international carmakers". Out of the ten, Saab plans on continuing discussions with only two or three, in order to find an investor by May (the company has until May 20 to reorganize) or the beginning of June.

As for the price GM intends on asking for the Swedish brand, sources say that the Americans are so keen on getting rid of Saab it may "go for nothing". Saab officials did not comment on the "donation idea".

As a disturbing news, a Saab insider said that GM might file for bankruptcy by the end of this week. This scared a few of the 27 reported investors, as Saab are dependent on engines and platforms provided by GM.