China minister says supports "in principle" firms' takeover of Saab

Newswire

SHANGHAI, Nov 1 (Reuters) - China's Minister of Industry and Information Technology said on Tuesday he supported "in principle" the planned purchase of Saab by Chinese firms Pang Da and Youngman, the first official indication on how Beijing might react to the rescue plan. Pang Da Automobile Trade Co. and Zhejiang Youngman Lotus Automobile Co signed an initial deal last week to pay 100 million euros to take over troubled Swedish carmaker Saab, owned by Swedish Automobile Chinese government ...

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