No news from Saab as worker discontent mounts

No news from Saab as worker discontent mounts
Five days after Saab employees learned they wouldn't receive their salaries for July, the troubled Swedish automaker has yet to update workers about the situation as union members take steps to force the company into bankruptcy.

“There is a steady stream and, by my estimates, we’ve received support from 500 members,” Pernilla Laurin from labour group Unionen told the TT news agency.

“Most of them still have hope, but many say the Saab-spirit is gone.”

Last Thursday, the European Investment Bank (EIB) announced that the loan it granted to Saab’s research and development programme in 2009 was given on the condition that Russian businessman Vladimir Antonov not take an ownership stake in the company.

But on Monday the EIB clarified that the question of Saab’s future is very much alive and that a great deal of effort is ongoing to save the cash-strapped Swedish automaker.

“The EIB continues its work to find a solution for Saab which will be accepted by all parties and which was paves the way for new investors in Saab,” EIB spokersperson Pär Isaksson told TT, adding that officials from Saab and the Swedish government are also participating in efforts to save Saab.

While Isaksson declined to name any specific investors, he said that there are “several” who are ready to invest.

A solution which would be welcomed by the EIB according too Isaksson would be if Saab paid back its EIB loan, which would then alter the conditions for who could take an ownership stake in the company.

However, Isaksson was unable on Monday to provide any details about when the EIB would be able to provide any information about a potential solution, saying only that Saab has submitted a number of suggested changes which are currently under review.

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