Geely has acquisition talks with Ford over Volvo

• Source: Global Times　
• [16:14 November 27 2009]
• Comments

Volvo S80

China's Geely Holding Group said Friday it was having a detailed and in-depth discussion with Ford over relevant terms and contracts about acquiring Volvo.

The Chinese automaker said Volvo would retain ownership of its technology following a components sale by Ford. Geely plans to pay about $2 billion for Volvo and has financing in place for the deal.

Ford named Geely as preferred bidder for Volvo in October this year.

Agencies and Shi Jierui contributed to this story