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China's Geely had no talks on GM's Saab -Geely exec

Tue Mar 3, 2009 9:53pm EST

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SHANGHAI, March 4 (Reuters) - Chinese carmaker Geely Automotive Holdings Ltd (0175.HK) has not had any talks over a possible bid for General Motors' GM.N Saab brand and is not interested in foreign brands, a senior Geely executive said on Wednesday.

Stocks  |  Mergers & Acquisitions

Asked if his company had held talks about a possible acquisition of Saab or other brands, the executive told Reuters: "No we did not. We're not interested in Saab or the other brands out there."

Sources with direct knowledge of the process told Reuters on Tuesday that the Saab brand had received interest from several potential bidders, including Geely and Dongfeng Motor Group (0489.HK), another major Chinese automaker.

Media reports have also said Geely was in preliminary talks with Ford Motor (F.N) about the sale of the U.S. automaker's Volvo car unit, although a Geely spokesman said his company had no plans to buy the unit. (Reporting by Fang Yan; Editing by Jonathan Hopfner)



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