Rumor: Geely Submitting $293 Million Bid For Volvo
According to a (very brief) article in China Car Times, Chinese automaker Geely is finally prepared to submit a bid to Ford Motor Company for Volvo. Geely's alleged offer: $293 million. A couple of weeks ago, sources were circulating a similar rumor, but with a figure of $2 billion attached. And back in June, our own Marty Padgett noted that Ford isn't likely to accept anything less than $3 billion. Needless to say, the situation is confusing.
Adding to the confusion -- and this could merely be a glitch in translation -- China Car Times reports that the Chinese government has given Geely "penultimate" approval to purchase Volvo from Ford,...
According to a (very brief) article in China Car Times, Chinese automaker Geely is finally prepared to submit a bid to Ford Motor Company for Volvo. Geely's alleged offer: $293 million. A couple of weeks ago, sources were circulating a similar rumor, but with a figure of $2 billion attached. And back in June, our own Marty Padgett noted that Ford isn't likely to accept anything less than $3 billion. Needless to say, the situation is confusing. Adding to the confusion -- and this could merely be a glitch in translation -- China Car Times reports that the Chinese government has given Geely "penultimate" approval to purchase Volvo from Ford,... Read More
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