BAIC mum on possible acquisition of Saab

The general manager of Beijing Automotive Industry Holding Corp (BAIC) would not deny the possibility of acquiring Saab wholly.

He was asked on the sidelines of a China-EU business summit on Monday whether the company would consider approaching Saab as a sole buyer or as a part of a consortium, Wang Dazong replied, "I would just say, 'stay tuned'."

According to Bloomberg November 27, BAIC, Wyoming-based merchant bank Merbanco Inc. and Renco Group Inc. together made an approach about acquiring the struggling Swedish automaker.

BAIC said November 25 it will "cautiously" reconsider plans to buy a stake in the unprofitable Saab after Koenigsegg said a day earlier that it ran out of time to complete the transaction.

Agencies and Shi Jierui contributed to this story