Geely confident on Volvo bid -chairman

Published: 29 Oct 2009 22:34:47 PST

SHANGHAI, Oct 30 - The parent company of Geely Automobile <0175.HK> is confident on a bid for Ford Motor's Volvo car unit, which it is discussing as the head of a consortium that includes both domestic and foreign banks, chairman Li Sufu said on Friday.

Li made the comments to Reuters on the sidelines of a business event in Shanghai.

Zhejiang Geely Holding Group was named by Ford Motor as a preferred bidder for its loss-making Swedish unit Volvo Car Corp late on Wednesday.

The deal, if it goes through, would mark China's biggest acquisition of foreign auto assets.