The usual suspicions....

1. Do you hear the pump run for couple seconds when you first turn the ignition switch on?

2. Do you see the tach needle quiver rythmically while the starter is cranking?

3. Is this a new situatuation? (Has it always started OK in cold weather before?)

I have a 90 740, and that year there was a Service Bulletin which called for some sort of fix to the cold starting. I believe they had to burn a revision into the computer to correct it. There is a sticker in my door jamb that says it was performed. (We bought the car second hand.)

If you answered "yes" to the questions above, the problem may be as simple as a flaky Radio Suppression Relay, which can cause the mentioned fault code to flash.