Report: GM has deal with Spyker for Saab

Citing ""several people close to the negotiations," The Financial Times reported Sunday that GM will shelve plans to close Saab and instead sell it to the Dutch firm in a deal that could be announced as soon as Monday.

The newspaper said such a move would come as a great relief to Saab's 3,400 workers and to Swedish officials, who had mounted a spirited campaign to save the quirky and innovative car brand. A sale would also put Spyker, which manufactures luxury sports cars, firmly into the mainstream car industry.

A loser in the deal would be Formula One racing giant Bernie Ecclestone, who had partnered with Luxembourg private equity firm Genii Capital to mount a bid for Saab, The Financial Times said.

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