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Published: Tuesday, 11/24/2009

Koenigsegg backs out of plan to buy Saab from GM

ASSOCIATED PRESS

DETROIT — General Motors Co. says a Swedish specialty car maker has ended plans to buy GM's Saab brand.

CEO Fritz Henderson says the Detroit automaker is disappointed in the decision by Koenigsegg Group AB and will take the next several days to figure out what to do.

The decision casts serious doubt on the future of Saab, which GM wanted to sell or close this year.




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