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The mainland Chinese true intent
Posted by Willy (more from Willy) on Tue, 13 Dec 2011 19:28:42
In Reply to: would Youngman pay this money if Plan B were a loser?, JohnA [Profile/Gallery]
, Tue, 13 Dec 2011 04:44:32
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I bet these mainland Chinese investors are just waiting for Saab to officially go bankrupt, then they can buy off its assets on the cheap. This represents a huge savings for them because if they were to buy now, putting aside the need for GM's consent, they have to pay the higher, market price.
There is a precedent for this. In 2004, the Shanghai Automotive Industry Corporation (SAIC) was supposed to invest in the British automaker Rover, only to back out in the last minute, let Rover collapsed, before reemerging to offer to bid for Rover's assets again, presumably at a much reduced price.
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