CHINESE carmaker Youngman has placed a bid for bankrupt Swedish carmaker Saab, public broadcaster Swedish Radio reported yesterday.

"A first bid has been submitted for carmaker Saab," the radio said, adding that several unidentified sources had named the bidder as Youngman.

It provided no other details, saying only that it was a multi-billion-kronor bid. Saab's liquidators were not available for comment.

Youngman showed keen interest in snapping up Saab before it declared bankruptcy, but its efforts were thwarted by the Swedish brand's former owner GM, which balked at transferring the necessary technology licences. A delegation from the Chinese company was reportedly in Sweden this week to try to hammer out a deal.

Saab filed for bankruptcy on December 19. It was already on the brink of bankruptcy when GM sold it in early 2010 to Dutch company Swedish Automobile for $400 million (€308 million). AFP