Saab Still on the Verge of Collapse

Although rumors were hinting that Saab might still live on - through an acquisition by Spyker - it seems the Swedish unit is getting close to the official closure, as the possibility to seal a deal is becoming a more unlikely scenario. A person close to the matter told Reuters that General Motors is keen on its plans to wind down Saab and the process will begin in early January as initially projected.

Still, the US-based manufacturer is negotiating with Spyker, who recently submitted an improved bid for the remaining assets of the Swedish manufacturer - GM earlier this month sold some technology to BAIC, including 9-3 and old 9-5 assembly lines. Furthermore, Spyker representatives expressed their confidence that a deal can be reached before December 31.

"We are still in discussions," Spyker CEO Victor Muller told Reuters.

Meanwhile, Dutch billionaire John de Mol, who has been linked with a deal for Saab, denied interest in the Swedish manufacturer and emphasized that he has no plans to back a potential takeover.

"Apparently there are parties that like to name someone such as De Mol to -- unjustly -- strengthen their position in the takeover battle," de Mol's investment company, Talpa, said in a statement.

In the meantime, talks on a potential Saab closure continue and General Motors has already started to take the necessary actions to begin the process. Swedish news website E24 informed that GM officials have already met with union leaders to discuss the company's future but further details are yet to be disclosed.

"The decision is to close Saab and that is what we are working with. That means that one moves forward with that action plan," Hakan Danielsson, head of the Swedish engineering union and a member of the Saab board, was quoted as saying.