Ford To Sell Volvo (Auto) to Chinese?

[DEEPNHOCK]

http://tinyurl.com/ygpgtuf
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HANGZHOU, China -- Ford Motor Co.'s has named Zhejiang Geely Holding
Group Co. Ltd., a privately-owned Chinese automotive company, as the
preferred bidder for Volvo Car Corp.

Geely, having built one of the fastest-growing automotive car
companies in China, will now embark on further detailed discussions
with Ford, paving the way for a potential acquisition of Volvo that
will ensure management independence at the famous Swedish brand.

The announcement follows extensive talks between Geely and Ford. Under
the proposed transaction, supported by Chinese banks, Volvo's existing
production and R&D facilities, union agreements and dealer networks
would be maintained, while Geely would enhance Volvo's access to sales
networks and sourcing opportunities in the important Chinese market.
The strategy would be led by an independent Volvo management,
headquartered in Gothenburg, Sweden.

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