Saab Declines After Swiss Reject $3.5 Billion Jet Order
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Saab AB fell the most in ten months after Swiss voters rejected a 3.1 billion-franc ($3.5 billion) order for its Gripen fighter jets in a referendum.
The 22-plane contract, which Switzerland awarded 2 1/2 years ago, was opposed by 53.4 percent of voters, the Swiss government in Bern said yesterday. The latest survey ahead of the vote had showed some 51 percent of people opposing the transaction while 44 percent were in favor.