Saab's fate is still up in the air.
For people in Sweden, today's news about the bankruptcy of GM is really all about the future of Saab. The GM-owned car manufacturer entered the Swedish version of Chapter 11 back in February. On Saturday, it was announced that GM's other European brands, Opel and Vauxhal, would be sold to a consortium owned by Magna International and Sberbank of Russia. Saab, however, was left out of the deal. Saab's now in a vulnerable position, according to Swedish Prime Minister Fredrik Reinfeldt.
GM has been talking about selling Saab for months. A number of bidders have shown interest in acquiring the company, including Renco Group, a U.S. investment company, and Fiat. Fiat was also interested in acquiring Opel, so this could be its shot at a consolation prize.
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