Saab still in talks with Chinese

The owner of troubled Swedish carmaker Saab is still talking to would-be Chinese buyers, hours after scrapping a planned cash lifeline and days after spurning their total buyout bid. Saab owner Swedish Automobile said late on Sunday it was cancelling a planned €245m investment deal signed in June, under which Zhejiang Youngman Lotus Automobile and Pang Da Automobile Trade would have taken a majority stake in Saab, as they had failed to confirm their commitments. The Chinese companies came up with an alternative last week for a 100 per cent buyout of the carmaker, which was granted protection from creditors in September and hasn't made a vehicle since closing its production line in April. Swedish Automobile rejected that offer, but said yesterday contact had not been broken off.