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Bid for Volvo cars?
Swedish consortium says ready to bid for Volvo cars
Posted on Tuesday, December 8th, 2009 at 2:58 PM EST.(Employee News)
A consortium dominated by Swedish participants aims to rival China’s Geely by submitting a cash bid for Ford Motor Co.’s Volvo car unit, the group’s chief executive said on Monday, Reuters reported.
Konsortium Jakob AB, formed on an initiative from the engineers’ trade union at Volvo cars, would be the third bidder for the Swedish car brand put up for sale by Ford earlier this year, the news service said. It takes on rivals Geely, the Chinese carmaker Ford has picked as the preferred bidder, and U.S. group Crown, led by former Ford Motor Co director Michael Dingman, Reuters said.
Fast said the consortium would move forward with a bid for the Swedish car unit provided Ford gave a positive response, the report said. The consortium has been in contact with Ford previously to express interest in the automaker, the story said. (Reuters)
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Rick
Nitro Year: 2007 (1 of 113,000 sold)
Nitro Model: R/T 4X4 Stone White
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