Colombia has formally set aside U.S. proposals for the F-16 and signed a $3.6-billion contract with Sweden’s Saab for Gripen E/F fighters, closing a decade-long search for a successor to its aging Kfir fleet. The agreement, completed over the weekend, marks a notable shift in Bogotá’s defense procurement strategy and confirms President Gustavo Petro ’s long-signaled preference for the Swedish offer. Shares of Saab rose 7.4 percent on Monday, reflecting strong market reaction to the multibillion-