REPORT: Geely denies plans to buy Volvo
 

<p>Filed under: <a href="http://www.autoblog.com/category/china/" rel="tag">China</a>, <a href="http://www.autoblog.com/category/volvo/" rel="tag">Volvo</a>, <a href="http://www.autoblog.com/category/earnings-financials/" rel="tag">Earnings/Financials</a></p><a href="http://www.autonews.com/apps/pbcs.dll/article?AID=/20090205/ANE02/302059881/1131"><img border="0" align="right" alt="" src="http://www.blogcdn.com/www.autoblog.com/media/2008/12/volvo_chinese_sale_take_3 .jpg" /></a>Of the many suitors who have reportedly had at least a passing interest in acquiring the Volvo brand from Ford Motor Company, the <a href="http://www.autoblog.com/2008/11/30/volvo-not-interested-in-buying-back-volvo-cars-from-ford/">Volvo Group</a>, BMW and Daimler have all publicly decided to pass on the opportunity. Many believe that a Chinese automaker will step up to the plate and purchase the Swedish brand known for safety, but now <a href="http://www.autoblog.com/2008/12/18/geely-reportedly-interested-in-volvo-cars/">Geely</a> has withdrawn its name from the proceedings with the statement, "We don't have plans to buy Volvo as some media have reported." Well, fine then. <br /><br />With Geely dropping out, SAIC <a href="http://www.autoblog.com/2008/12/08/ford-in-further-talks-with-shanghai-auto-to-sell-volvo/">remains a possible Chinese suitor</a> along with Changan Automobile Group, Dongfeng Motor Group and Chery Automobile, all of which have said that they are monitoring the situation, whatever that means. Renault has <a href="http://www.autoblog.com/2009/02/02/ford-holding-talks-with-renault-regarding-volvo-sale/">recently emerged</a> as a possible bidder as well. Ford is <a href="http://www.autoblog.com/2008/12/04/ford-wants-6-billion-for-volvo/">rumored</a> to be looking to get about $6 billion for Volvo, which is just about what the Blue Oval paid for it in 1999.<br /><br />[Source: <a href="http://www.autonews.com/apps/pbcs.dll/article?AID=/20090205/ANE02/302059881/1131">Automotive News</a> - sub. req'd]<p style="padding:5px;backgr ound:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.autoblog.com/2009/02/05/report-geely-denies-plans-to-buy-volvo/">REPORT: Geely denies plans to buy Volvo</a> originally appeared on <a href="http://www.autoblog.com">Autoblo g</a> on Thu, 05 Feb 2009 13:26:00 EST. Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href=http://www.autonews.com/apps/pbcs.dll/article?AID=/20090205/ANE02/302059881/1131>Read</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/2009/02/05/report-geely-denies-plans-to-buy-volvo/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/forward/1451350/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/2009/02/05/report-geely-denies-plans-to-buy-volvo/#comments" title="View reader comments on this entry">Comments</a>

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