Saab wind-up begins, GM still reviewing bids

STOCKHOLM Fri Jan 8, 2010 9:44am EST

STOCKHOLM Jan 8 (Reuters) - Saab's management has decided to start to liquidate the firm, but parent GM is still reviewing bids received for the firm, a Saab union representative said on Friday.

Saab's management took the decision to begin the liquidation process at a board meeting.

"It is irresponsible of GM to move at the same time in two different directions -- both toward a sale and a wind-down -- in the current situation," IF Metall chairman Stefan Lofven said in a statement.

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