March 21, 2010
Swedish companies shun foreign ownership
Published: 31 Dec 09 10:36 CET
Online: http://www.thelocal.se/24142/20091231/
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At a time when Sweden's largest automakers, Saab and Volvo – both owned by American companies – are up for grabs, Swedish companies remain sceptical about foreign ownership.
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The survey of 100 Swedish business leaders was conducted by analysis firm United Minds.
But Pontus Braunerhjelm, managing director of the Swedish Entrepreneurship Forum (Entreprenörskapsforum) and economics professor at the Royal Institute of Technology (KTH) in Stockholm, rejected the notion that Swedish ownership was inherently more desirable.
“It's an expression of a kind of nationalism. Foreign owners facilitate the spread of knowledge and diversity,” he said.
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Those countries that have successfully attacted foreign investments and capital are economically prosperous.
Braunerhjelm's "...expression of a kind of nationalism" is true, but Swedes prefer to see their own companies perform successfully under Swedish management. Companies that do not perform, close down, and that is a fact of life in commerce.
By the way, talking of commerce, at the top of the pages is Gourmetresa till Azorema advert by Solresor.se. Nice photography, but would it be a good idea to translate the copy into English when you click through to the main advertising copy?
Their 3rd party ad server is not that advanced yet. Location and language are integrated parameters for Sweden....For Canada you get two language choices.
All the evidence shows that actually foreign investors are skeptical to own Swedish companies; otherwise Saab and Volvo wouldn't be worry about their future and could be sold easily!
GM and Ford had no doubts when they invested in SAAB and Volvo Cars. Sony had no reluctance investing in SonyEricsson. Zeneca had no problem merging with Astra. Brown Boveri had was no skeptical when merging with ASEA. Volkswagen were thrilled to invest in Scania. EA Games had no problem buying Dice, etc, etc.
In the first paragraph, it says "Swedish companies remain skeptical about foreign ownership," then why foreign investors own the companies you mentioned, if Swedes were skeptical? I mean the article sounds like Swedes are doing a favor to foreign investors to sell their companies to them! They are skeptical but they sell their companies, sound ridicules.
Swedes sell their companies because they have to, they can't run their business and look for investors. As far as I remember most of the companies you mentioned where on the edge of misery and looked for foreign investors, and are owned by foreign investors now.
If any thing should be skeptical in here, it's for they who invest; they who are for sell have nothing to lose, they are already a loser!
"All the evidence shows that actually foreign investors are skeptical to own Swedish companies"
A statement that is made out of thin air...
Yes, in this case (SAAB, VOLVO) have been skeptical for investors. Anyway neither SAAB nor VOLVO are Swedish owned, so let keep Swedes out of the trouble of skepticism.
have/had. There is a certain competative nature about owning, " I have it and You do not". Look at the extent to which Ford went in the 60s to beat Ferarri at Lemans,
Just because Enzo backed out of a deal to sell to Ford. Just Schoolground Politics.
Rodger Smith once said " We are not in the business of making Automobiles but in the business of making Profits". The Best leadership is there 12 hours a day and cares about the People, Products and Customers.