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Ford in Advanced Talks to Sell Volvo

Ford is again claiming that somebody is interested in buying Volvo, confirming it has moved a step closer to selling the company but refused to provide clear details regarding the buyers. A February report informed that several companies are willing to invest in the Swedish brand, but a final buyer was expected to be announced in April. However, Volvo representatives today said that no official details are available at this point as negotiations would take "some time", Autonews informs today.

"We've had contact with a number of parties who've expressed interest concerning the future of Volvo. Ford's been pleased with the number and quality of those parties," John Gardiner, Ford's European director of strategic communications said, citing a message sent to Volvo employees.

"We've had preliminary discussions to determine the level of interest in the Volvo business that they have and we're now talking in more detail to those parties about the future for Volvo."

Past reports claimed that Chinese automaker Chery Automobile is one of the favorite companies to take over Volvo. Even if it admitted it is interested in purchasing Ford's Swedish unit, Chery is yet to release an official statement as negotiations are still under way.

"We may consider a takeover if no other Chinese automaker is interested. We won't fight for it," Yin Tongyao, Chery chairman, said one week ago.

Private company Geely, which has also been linked with an offer for Volvo, denied interested in the Swedish brand. On the other hand, Swedish business newspaper Dagens Industri claims Chinese car makers Dongfeng Motor Group and Chongqing Changan Automobile Co, and "an European constellation" are also interested in acquiring the struggling carmaker.
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About the author: Bogdan Popa
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Bogdan keeps an eye on how technology is taking over the car world. His long-term goals are buying an 18-wheeler because he needs more space for his kid’s toys, and convincing Google and Apple that Android Auto and CarPlay deserve at least as much attention as their phones.
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