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Fresh bids for Saab not expected, report

General Motors Co. doesn’t expect to find new bidders for Saab, according to reports by financial news agency Bloomberg.

The carmaker may shut the bankrupt unit after Koenigsegg Group AB canceled a planned acquisition, Bloomberg cites people familiar with the matter as saying.

Saab’s future will be decided at a Dec. 1 GM board meeting.

While directors might opt to keep the Swedish division, as they did with the Opel unit this month, GM has a contingency plan that calls for winding down the brand, the people said.
 

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