Hard shoulder: A CONSORTIUM dominated by Swedish owners plans to bid for the Ford-owned Volvo car firm, a Swedish business daily newspaper reported at the weekend without disclosing its sources.
Dagens Industri said the group, Konsortium Jakob AB, had intensified efforts recently to raise enough capital to make an offer in light of reports that Ford was to intensify talks with China’s Geely, which according to sources is among the suitors for the Ford unit up for sale.
The US carmaker put money-losing Volvo cars up for sale last December. The engineers’ trade union at Volvo had taken the initiative to the consortium, which would aim at listing the car maker.
– Reuters