Thursday, February 05, 2009

Ford to Sell Volvo to Chinese? - Bloomberg Worldwide: "Ford Motor Co., seeking to raise cash to avoid a federal bailout, is in talks to sell its Volvo Car unit to China’s Geely Automobile Holdings Ltd., according to three people familiar with the discussions.

Ford probably will get less than the $6.4 billion it paid for Sweden-based Volvo in 1999, said one of the people, who declined to be identified because the preliminary talks are confidential. Ford has also approached Chinese automakers Chery Automobile Co. and Chongqing Changan Automobile Co., the people said."


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