Saab Would Welcome Fiat

There's something rotten in the kingdom of Saab...If you are following the story, then you know that the Swedish manufacturer, "thanks" to its leadership, has become a kind of Comical Ali of the automotive industry. We will not go into the story again, but only ask two simple questions: why the hurry to deny everything? Why the need to be so opaque?

So it happened yesterday, when the Swedish stepped in and said they are not in talks with Fiat because there are other "serious buyers" for Saab. This is no longer the case today, as Saab says "we will welcome a dialogue" with Fiat.

Although not a confirmation in itself, Saab has prepared the world for the most likely outcome, should GM reach an agreement with Fiat on the fate of GME. Even if not among the "ten bidders" for Saab, Fiat hold the lion's share, as their intervention would rid GM of Saab, Opel and Vauxhall in one strike.

It is unclear yet whether GM will step in and decide by itself what Saab should do. For now, the Swedish are fighting for themselves, under the protection of the reorganization and credit protection law. With a deadline approaching on May 20, Saab hopes to win the court over and get another extension.

"To prolong the reorganization period, it is important to disclose in more detail how far we have come. And, of course, the ownership issue is very important," Saab spokesman Eric Geers was quoted as saying by Reuters.

There is of course the prospect of others deciding for Saab. GM will most likely lean towards Fiat, as would probably the Swedish government. The latter already confirmed it had talks with Fiat, but didn't go into details.