text: China's Pang Da says still in talks with Saab | Reuters
  December 6, 2011 / 12:36 PM / in 6 years
  SHANGHAI (Reuters) - China's Pang Da Automobile Trade Co (601258.SS) will continue talks with various parties including Saab on plans to invest in the crisis-hit Swedish carmaker, it said in a statement.
  Saab owner Swedish Automobile SWAN.AS said on Monday a Chinese bank was in talks about taking a stake in Saab, although it declined to name the bank.
  On Sunday, Reuters reported that a Chinese bank would replace Pang Da in the rescue deal, which might help pave the way for approval by General Motors (GM.N), which still has preferential shares in Saab and has supplied the Swedish auto brand with crucial components.
  "In principle, we would not oppose any plan that would be good for Saab's restructuring and help it out of the current plight," Pang Da said in a statement posted on the Shanghai stock exchange late on Monday.
  Swedish Automobile said on Monday it was still in discussions with Youngman, but declined to say whether Pang Da was still involved.
  Chinese investors Pang Da and Zhejiang Youngman Lotus Automobile had agreed to invest in the car manufacturer, but the deal encountered numerous problems.
  GM, which operates in China in a partnership with state-run SAIC Motor Corp Ltd (600104.SS), has said it would be difficult to support a sale of Saab that hurts GM's competitive position in China and other key markets.
  Analysts have said that without GM's technology licenses and production contract, Saab would be unable to continue in its present form.