www.euronews.net The struggling Swedish carmaker Saab looks likely to become the latest European firm to be snapped up by the Chinese. The company has not made a car for months and during that time has teetered from one cash crisis to another. It was under court protection to prevent creditors filing for bankruptcy, a process that was in danger of collapse before this new agreement. The parent company Swedish Automobile said a memorandum of understanding has been signed with two Chinese companies.
euronews, corporate, Cars, China