Changan Auto, SAIC interested in acquiring Ford's Volvo: report

Published: 12 Dec 2008 02:48:42 PST

Dec. 12, 2008 (China Knowledge) - Changan Automobile Group and Shanghai Automotive Industry Corp (SAIC) are reportedly interested in acquiring Ford Motor Co's Volvo brand, the China Daily reported.

Changan Auto and SAIC are likely to hold separate talks with the U.S. automaker on the Volvo brand sales issue.

Changan Auto, one of the leading auto manufacturers in China, is interested in Volvo, the China's National Business Daily reported, citing an unnamed company source.

Ford contacted SAIC for a second time and SAIC was one of the leading bidders to acquire Volvo in the previous round of talks, which ended up unsuccessfully on price matters, according to the UK's Sunday Mail.

Representatives at Changan Auto and SAIC declined to comment, and Volvo China's representatives also refused to comment on any acquisition reports.

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