BAIC, Geely still interested in Volvo takeover

Published: 30 Jun 2009 21:08:25 PST

Shanghai, July 1 (Gasgoo.com) China's Beijing Automotive Industry Holding Corp (BAIC) and Geely Automobile Holdings remain interested in Ford Motor's Volvo car unit, Reuters reported yesterday, citing insiders. In addition, a "Western industrial group" is also a potential bidder.

Geely Auto, which has already visited Volvo in Sweden, plans to make a fresh visit soon, and Geely representatives are likely to visit Volvo this week, sources told Reuters. Ford is also hopeful that a consortium of Scandinavian investors may come together to lodge a proposal.

John Gardiner, a spokesman for Ford Europe, said: "We're still in discussion with a number of parties concerning the future of Volvo. No final decision has been made at this stage and the process will take some time to unfold."

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