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Uncertain future for carmaker Saab

Saab-owner Spyker has announced that its funding deal with China's Hawtai Motor Group has fallen through, throwing plans to resume production at the Swedish carmaker into doubt.

Spyker said the agreement had been terminated because Hawtai had been unable to secure shareholder approval.

The deal was unveiled just last week, with Hawtai pledging to invest 150m euros ($221m; £134m) into Spyker.

Spyker said it would continue work to secure short and medium-term funding.

Theo Leggett reports.

  • 12 May 2011
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