- Sweden edition
- Change edition:
- France |
- Germany |
- Norway |
- Switzerland
February 14, 2012
Reinfeldt fobs off Koenigsegg Saab plea
Published: 20 Aug 09 15:50 CET | Double click on a word to get a translation
Online: http://www.thelocal.se/21586/20090820/
The Swedish state has no intention of bailing out the Koenigsegg Group, the prospective buyers of Saab Automobile, Prime Minister Fredrik Reinfeldt has said.
- Sweden refuses to fill capital hole in Saab deal (19 Aug 09)
- GM confirms Saab sale (18 Aug 09)
- Koenigsegg buys Saab (17 Aug 09)
Reinfeldt was backed up by the enterprise minister, Maud Olofsson, in rejecting Koenigsegg Group's call for a bridging loan to make up the reported 3 billion kronor ($419 million) gap in their financing to complete the deal.
The Local reported on Tuesday that ailing US car firm General Motors had confirmed the signing of a stock purchase agreement with the Koenigsegg Group regarding the sale of Saab Automobile to the Swedish-led consortium.
With reports emerging that there remained significant financial obstacles to be overcome before completing the deal, Christian von Koenigsegg called on the Swedish state to provide the loans.
"We see this as a deal between three parties; General Motors, Koenigsegg Group and the Swedish state," he said to the Svenska Dagbladet (SvD) newspaper.
Reinfeldt reacted angrily when the subject came up at a press conference on Wednesday.
"There are those trying to change the way companies should be run in Sweden. Firstly, the buyer stumps up insufficient funds. Then the venture capital and credit markets...decline to join in. And then the state is left there as the largest venture capitalist of them all, who with welfare money should go in and assume the risk that no one else wants to take," Reinfeldt said.
The opposition Social Democrats have by way of a response accused the government of inaction.
"The government has, for ideological reasons, decided not to act. In other countries the state exerts itself to save jobs," party spokesperson Tomas Eneroth said, who claimed that 12,000 jobs were on the line.
What do you think? Leave your comment below.
Fark It!
Digg This
Share everywhere
Send to a friend
Printable version
Twitter ThisEU to probe Sweden's 'economic imbalance'
Sweden is among twelve countries set to be discussed in a report from the EU commission, due to what the European Commission has identified as imbalances in the economy. READ (6 COMMENTS) »
House prices in Sweden begin upward climb
After observing a slight rise in real estate prices after the first month of 2012, Swedish realtors are hoping that this may be the beginning of a positive trend after last year's plummeting prices. READ »
Swedish recruiters check jobseekers on the net
40 percent of recruiters are checking potential employee’s social networking pages during the hiring process, a figure which has shot up from last year, according to a recent report. READ (3 COMMENTS) »
Narcolepsy victims in new compensation bid
Families of children in Sweden suffering from narcolepsy caused by vaccination for the swine flu can expect some form of compensation, Swedish health minister Göran Hägglund said on Sunday in response to new calls for help from parents. READ (1 COMMENT) »
Saab shares dive despite strong 2011 report
Swedish defence group Saab on Friday reported a major boost in earnings for 2011 thanks to winning several major contracts, but a drop in orders left investors jittery, sending Saab's stock price down nearly 10 percent. READ (3 COMMENTS) »
Mats Sundin in massive kid's health research gift
Mats Sundin, the ex-Swedish hockey great, has made a donation supporting research into children's health at Karolinska Institutet in Stockholm and the University of Toronto. READ (5 COMMENTS) »
H&M under fire over Cambodia mass faintings
H&M has been criticized for choosing not to attend a hearing to highlight poor conditions for textile workers in Cambodia, where hundreds of employees at a plant run by the Swedish fashion giant mysteriously passed out in August. READ (6 COMMENTS) »
SAS earnings hit by Spanair bankruptcy
The bankruptcy of Spanair pulled SAS into the red for 2011, despite improved operating profits, the Scandinavian airline reported on Wednesday. READ (2 COMMENTS) »
Saab to cut Swiss Gripen fighter price: report
Swedish defence group Saab have announced that it will cut the price on its Gripen fighter jet to secure its Swiss order after a threat by French planemaker Dassault to undercut them. READ (6 COMMENTS) »
Few Swedes ready to work until they're 75: poll
An overwhelming majority of Swedes disagree with Swedish prime minister Fredrik Reinfeldt's suggestion that workers should be ready to stay on the job until they are 75, a new poll shows. READ (34 COMMENTS) »
- 07/02 US ISPs block hacker probes: Swedish police (5 comments) »
- 06/02 Kinnevik in bid to buy up publisher Metro (2 comments) »
- 06/02 Fire brigade slammed for 'renting out' rooms (2 comments) »
- 03/02 New bidder in the Saab saga shows its hand (8 comments) »
- 03/02 Volvo group announces record sales for 2011 »
- 03/02 TeliaSonera reports profit drop for 2011 »
- 02/02 Electrolux profits plunge amid weak demand »
- 02/02 AstraZeneca job cuts hit Södertälje hard (8 comments) »
- 02/02 Europe's banks set for years of 'shrinkage': Borg (2 comments) »
- 01/02 'Underclass-safari' post lands official in trouble (1 comment) »
20 things to know before moving to Sweden
As diverse as Sweden is, there are a few societal norms that are distinctly Swedish. Understanding a handful of them will hopefully prepare you culturally before you relocate. When you're invited home to a Swede, you better be on time and take your shoes off, writes expat Lola Akinmade-Åkerström. Read more »
How far can English take you in Sweden?
Sweden is a country where almost everyone can speak English. So why bother to learn Swedish? Edina Varnagy from Hungary managed with English for a whole year but then found that Swedish could open doors – to a job, a social life and greater understanding. Read more »
| 14/02 | Data Warehouse Developer for DONG Energy IT DONG Energy |
Gentofte |
| 14/02 | Key Account Manager Food Borregaard |
Sarpsborg |
| 14/02 | Purchasing Program Manager Volvo |
Göteborg |
| 14/02 | Application SW Architects/Developers within Product Development Volvo information Technology AB |
Göteborg |
| 14/02 | Univar recruits Accounting Manager/Financial Controller to be based in Malmö Meritmind AB |
Malmö |
| 14/02 | Nordic Site IT Delivery Manager Philips AB |
Stockholm |
| 14/02 | Regulatory Affairs Associate Poolia AB |
Göteborg |
| 14/02 | Business Controller Michael page |
Göteborg |
| 14/02 | System developer within Q&A (Java och C) in Mid Sweden Qwork AB |
Karlstad |
| 14/02 | Sales Representative Nordic Occlutech International AB |
Helsingborg |
- 14/02 Investor confidence tops 10-month high »
- 14/02 OECD sees German growth slowing in 2012 »
- 13/02 Deutsche Bank 'to pay €800 mln' in Kirch case »
- 13/02 Greece leaving the euro not so scary - Germans »
- 10/02 Berlin defies EU over copyright deal »
- 10/02 Germans don't trust Greece to tighten belt »
- 09/02 Tourists flock to Germany in 2011 »
- 09/02 Daimler books record €6-billion profit »
- 08/02 Exports top €1 trillion despite euro crisis »
- 08/02 GM threatens major job cuts at Opel »
- 13/02 Looking for a long term appartment
- 13/02 Babysitter
- 13/02 flat or room available
- 13/02 Party Photographer
- 13/02 Apartment Near Arlanda
- 13/02 Apartment Needed Immediately
- 19:40 SFI - personal number loop...
- 19:19 E-Mail replies from Swedish Businesses
- 19:17 Upper abdominal pain
- 18:20 Need to replace windows
- 18:05 Women drivers & safety
- 17:52 Where do you live?
- 17:39 Big Fat Gypsy weddings
- 16:58 Volunteering in Sweden
- 16:01 What is death?
- 15:43 Tax deductible for rented property
Swedish Down Town PR Consulting and Productions is an innovative business company which provides valuable assistance with Public Relations and Communications in the swedish and the international market.
www.swedishdowntown.com
Find products and services that are specifically focused on English speakers living in Sweden!
FULL DETAILS
British-Australian Male Counsellor. Counselling Therapy for Depression, Mental Health, Sex, Relationship & Expat Issues
08-559 22 636 or CLICK HERE
Individuals & Couples - Stockholm Beth Rogerson PhD - Clinical, Marriage & Family Therapist
Click or call 08-5580 1266 now
Therapy in English in Stockholm Trained in California Individuals & Couples (08) 93 81 48 FREE phone consultation
Visit anxiousorblue.se
The new Online Tennis Store with the largest selection of Babolat Products in Sweden
http://www.babolatshop.se
Turning Point Counselling centre offers the international community of Stockholm a safe space for personal development, counselling and coaching.
http://www.turning-point.se/show.asp
Your comments about this article:
The comments below have not been moderated in advance and are not produced by The Local unless clearly stated. Readers are responsible for the content of their own comments. Comments that breach our terms and conditions will be removed.
But I agree with Reinfeldt: Sweden should not pour state money into the deal.
GM is asking too much. Let the open market decide what Saab is really worth.
Incidentally, it is of value only if production continues in Sweden. If production moves to Germany - what's the point? - switch to BMW or Merc. The Swedish national identity is essential to the brand. If it was built anywhere else I wouldn't buy one, any more than I'd buy Scottish vodka.
Move on to a better buyer.
And Oh yea! Reinfeldt has got it right this time.