Saab files for bankruptcy in Sweden

Stockholm, Dec 19 (BBC News): Troubled Swedish carmaker Saab has filed for bankruptcy after failing to secure fresh funds from potential Chinese investors. General Motors (GM), which owns part of Saab, did not want Chinese carmakers accessing technology licences. Production has been suspended at Saab's main plant in Trollhattan, Sweden, since April as the company has struggled to pay its suppliers. Workers have complained that they have not been paid since last month. 'Insolvent' Saab had been in takeover talks with several Chinese companies, including Zhejiang Youngman Lotus Automobile.