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Saab could be sold for minimal price

Saab could be sold for a minimum of $1 as long as the bidder is able to secure a long term security for the company.

Nick Reilly, head of GM Europe, told the Daily Telegraph GM was less concerned about what price was paid as long as dealers and customers weren’t stuck with a new company that wouldn’t be able to keep the businesses running in the long term.

GM is moving forward with winding down the business but Reilly said a sale is still the preferred option.

Sports car maker Spyker and a Luxembourg-based private equity consortium headed by Formula 1 boss Bernie Ecclestone are still in the race to rescue Saab.

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