Ford denies selling Volvo to Geely

• Source: Global Times
• [16:21 June 19 2009]
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By Shi Jierui

After some Chinese media reported Geely had an initial agreement to buy Volvo from Ford, Geely Automobile Holdings Ltd, Ford Motor and its Volvo car unit all issued statements Wednesday denying the news.

James Hope, Volvo's US Product Communications Manager, said to Swedespeed.com, "An announcement related to the sale of Volvo Car Corp. would only come from Ford Motor Company. As of today (June 17), neither Ford Motor Company nor Volvo Car Corporation in Sweden has made any announcement regarding the sale of Volvo. Reports of such a sale by any media outlet are speculative and, therefore, are not accurate."