"We see this as pure speculation," Volvo spokesman Bo Larsen said. "We still trust our CEO Stephen Odell that he'll keep us informed as to what is going on. He has promised to tell us first if anything happens."
Meanwhile, Ford continues negotiations to sell Volvo by the end of the year, with a new businesses group led by American investors reportedly interested in the acquisition.
The Financial Times reported last week that the Crown consortium has already secured financing from several private equity groups but before proceeding to an official bid, it needs extra backing from Swedish investors. The Crown consortium is led by Michael Dingman, a former Ford director, and Shamel Rushwin, a former executive at Ford and Chrysler, the source wrote.
Chinese carmaker Geely on the other hand is believed to be favorite to take over the Swedish manufacturer, with some sources even hinting that it has already signed a confidentiality agreement. Ford confirmed several times in the past that it wants to sell Volvo but refused to disclose the names of the interested parties.
Geely is reportedly aiming to offer up to $2 billion and establish a new factory in China that would help the Swedish manufacturer expand its business in the region. Both sides have hinted before that they are looking to close the takeover deal by December 31.
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