Sweden’s Prime Minister Fredrik Reinfeldt used harsh vocabulary when he rejected Koenigsegg’s request to borrow more money to finance its acquisition of General Motor’s loss-making Saab.

During a press conference on Wednesday Fredrik Reinfeldt made it utterly clear that the government is not willing to "act venture capitalist” as he slammed Koenigsegg’s call for additional state funding.

General Motors confirmed Tuesday that it had signed a stock purchase agreement with Koenigsegg Group AB regarding the sale of loss-making Saab Automobile AB. However, the closing is still subject to funding agreements and Koenigsegg turned out to be 3 billion kronor (292 million euros, 414 million dollars) short.

Christian von Koenigsegg, founder of the sports car maker, suggested that the three parties, Koenigsegg Group, GM and the Swedish government, should split the costs and asked for a one-billion-kronor loan.

"We have tried to find financing for around 30 percent of the total capital requirement, which equates to around 3 billion kronor. But as the banking system is not currently functioning normally it is reasonable to expect to be able to secure a bridging loan until we can secure the capital," Christian von Koenigsegg said to daily Svenska Dagbladet.

Fredrik Reinfeldt was unmistakably annoyed over Christian von Koenigsegg’s conduct, the TT news wire reports.

“I've noticed that they are trying to change the order of how companies are handled in Sweden. First the buyers should not use enough of their own capital. The venture capital and credit market that is improving should not either participate. Suddenly the state is the largest venture capitalist, and is with the welfare’s money supposed to take a risk that no one else is willing to take”, Fredrik Reinfeldt said to reporters.

"I want to give a very clear message: this is not our line. I am not prepared to pledge Sweden and act venture capitalist for the wealthy".

Also Jöran Hägglund, under-secretary at the Ministry of Enterprise, pointed out that the government wasn't particularly excited over Koenigsegg’s bold suggestion.

"We have made it clear that the Swedish tax payer will not go in and finance a whole deal between Koenigsegg and GM with regard to Saab. Had that been the case we would have bought the company in the first place", he said to TT.

Koenigsegg Group still awaits response from the Swedish government about a state guarantee for a 600-million-euro (848-million-dollar) loan from the European Investment Bank. GM said the deal hinges on the EIB approving the loan.