www.euronews.net The Swedish car maker Saab has said it is terminating a 245 million euro investment deal with two Chinese companies. Saab's owners said carmaker Zhejiang Youngman Lotus and Pangda -- which is China's biggest car dealer -- had failed to confirm their commitment to the agreement as well as a bridging loan to enable it to pay suppliers and workers. Instead the Chinese wanted an outright buyout. Saab's shares slumped on the news.
euronews, corporate, Cars, Sweden