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Wednesday, September 09, 2009
China's Geely Eyeing Volvo: Report
By Lauren Covello
FOXBusiness
China’s Geely Automotive may make a bid for Ford’s (F) Volvo brand, according to a Reuters report published Thursday.
CEO Gui Shengyue told Reuters that Geely Holding Group -- Geely’s privately held parent -- would likely seek full ownership of Volvo and would make any bid in partnership with a government-backed investor, according to the report.
Shengyue did not put a price tag on the value of a possible bid, though media estimates have valued a deal for Volvo at close to $2 billion, according to the report.
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